New Gold (NYSEAMERICAN:NGD) Stock Price Up 5.5%

New Gold Inc. (NYSEAMERICAN:NGD – Get Rating) shares rose 5.5% on Friday . The stock traded as high as $0.89 and last traded at $0.88. Approximately 2,460,413 shares changed hands during trading, a decline of 17% from the average daily volume of 2,970,581 shares. The stock had previously closed at $0.84.

Analyst Upgrades and Downgrades

NGD has been the subject of several research reports. National Bank Financial raised their price target on shares of New Gold from C$1.60 to C$1.75 in a research note on Friday, January 13th. TD Securities decreased their price target on shares of New Gold from $0.95 to $0.90 and set a “reduce” rating for the company in a research note on Friday, February 17th. TheStreet cut shares of New Gold from a “c” rating to a “d” rating in a research note on Tuesday, February 21st. Finally, Scotiabank started coverage on shares of New Gold in a research note on Friday, March 3rd. They set a “sector perform” rating for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $1.48.

New Gold Stock Up 6.2 %

The firm has a market cap of $607.67 million, a P/E ratio of -8.90, a P/E/G ratio of 2.20 and a beta of 1.49. The company has a quick ratio of 1.53, a current ratio of 2.20 and a debt-to-equity ratio of 0.41.

New Gold (NYSEAMERICAN:NGD – Get Rating) last announced its quarterly earnings results on Thursday, February 16th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). New Gold had a negative return on equity of 2.67% and a negative net margin of 11.05%. The business had revenue of $162.80 million during the quarter. Analysts forecast that New Gold Inc. will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On New Gold

Several hedge funds have recently added to or reduced their stakes in NGD. Commonwealth Equity Services LLC acquired a new stake in shares of New Gold during the third quarter worth $25,000. Bluefin Capital Management LLC bought a new position in shares of New Gold in the third quarter worth $26,000. Boenning & Scattergood Inc. bought a new position in shares of New Gold in the fourth quarter worth $26,000. Virtu Financial LLC bought a new position in shares of New Gold in the first quarter worth $33,000. Finally, Quantbot Technologies LP bought a new position in shares of New Gold in the second quarter worth $33,000. Institutional investors and hedge funds own 31.92% of the company’s stock.

New Gold Company Profile

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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.