New Gold Inc. (NYSE:NGD) Receives $3.08 Average PT from Analysts

New Gold Inc. (NYSE:NGD) has earned a consensus rating of “Buy” from the seven brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $3.08.

Several equities analysts have recently weighed in on NGD shares. Scotiabank increased their price objective on shares of New Gold from $2.75 to $3.25 and gave the company a “sector outperform” rating in a research report on Tuesday, September 17th. Royal Bank of Canada increased their price objective on shares of New Gold from $3.00 to $3.50 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, StockNews.com upgraded shares of New Gold from a “hold” rating to a “buy” rating in a research note on Friday, October 25th.

New Gold Stock Performance

NYSE NGD opened at $2.53 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The firm’s fifty day moving average price is $2.85 and its two-hundred day moving average price is $2.40. New Gold has a 1 year low of $1.09 and a 1 year high of $3.25. The firm has a market capitalization of $2.00 billion, a P/E ratio of 126.50 and a beta of 1.31.

New Gold (NYSE:NGD) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.04. The firm had revenue of $252.00 million for the quarter. New Gold had a net margin of 2.33% and a return on equity of 9.38%. As a group, research analysts anticipate that New Gold will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new position in New Gold during the 3rd quarter worth approximately $704,000. XTX Topco Ltd raised its holdings in New Gold by 294.7% during the 3rd quarter. XTX Topco Ltd now owns 488,959 shares of the company’s stock worth $1,408,000 after purchasing an additional 365,079 shares during the last quarter. National Bank of Canada FI raised its holdings in New Gold by 22.9% during the 3rd quarter. National Bank of Canada FI now owns 2,374,142 shares of the company’s stock worth $6,844,000 after purchasing an additional 442,527 shares during the last quarter. Two Sigma Advisers LP increased its stake in shares of New Gold by 18.7% in the 3rd quarter. Two Sigma Advisers LP now owns 4,322,930 shares of the company’s stock valued at $12,450,000 after acquiring an additional 681,822 shares in the last quarter. Finally, Independent Family Office LLC bought a new stake in shares of New Gold in the 3rd quarter valued at $242,000. Institutional investors own 42.82% of the company’s stock.

New Gold Company Profile

New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company’s principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.