Shares of New Gold Inc. (NYSEAMERICAN:NGD – Get Rating) fell 4.6% during mid-day trading on Thursday . The stock traded as low as $1.15 and last traded at $1.16. 1,931,282 shares were traded during trading, a decline of 26% from the average session volume of 2,611,045 shares. The stock had previously closed at $1.22.
Analyst Ratings Changes
Several research analysts have commented on the stock. National Bank Financial raised their price target on shares of New Gold from C$1.60 to C$1.75 in a report on Friday, January 13th. TD Securities cut New Gold from a “hold” rating to a “reduce” rating and set a $0.85 target price on the stock. in a report on Tuesday, December 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $1.47.
New Gold Stock Down 4.5 %
The firm has a market cap of $794.86 million, a price-to-earnings ratio of 8.43, a P/E/G ratio of 4.16 and a beta of 1.48. The company has a current ratio of 2.25, a quick ratio of 1.68 and a debt-to-equity ratio of 0.39.
Institutional Trading of New Gold
Several institutional investors have recently made changes to their positions in NGD. Commonwealth Equity Services LLC purchased a new position in shares of New Gold in the 3rd quarter valued at approximately $25,000. Bluefin Capital Management LLC purchased a new stake in New Gold in the 3rd quarter valued at about $26,000. Boenning & Scattergood Inc. purchased a new position in shares of New Gold during the 4th quarter valued at approximately $26,000. Virtu Financial LLC acquired a new stake in New Gold in the first quarter worth $33,000. Finally, Quantbot Technologies LP purchased a new stake in shares of New Gold in the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 31.92% of the company’s stock.
New Gold Company Profile
New Gold, Inc is a gold mining company, which engages in the operation, development and exploration of mineral properties. Its portfolio includes Rainy RIver, New Afton, and Cerro San Pedro. The company was founded on January 31, 1980 and is headquartered in Toronto, Canada.
- Get a free copy of the StockNews.com research report on New Gold (NGD)
- Cathie Woods’ Ark Innovation ETF Set To Rebound in 2023?
- Mullen Automotive Stock Gains Momentum On Positive News
- Harley-Davidson Inc. Stock, Is It Time To Buy?
- The Bottom Is In For Meta Platforms, Volatility Is Not Over
- Analyzing Alaska Air’s Recent Earnings
Receive News & Ratings for New Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Gold and related companies with MarketBeat.com's FREE daily email newsletter.