New Gold (NYSEAMERICAN:NGD) Shares Up 3.2%

Shares of New Gold Inc. (NYSEAMERICAN:NGD) shot up 3.2% during trading on Wednesday . The company traded as high as $1.79 and last traded at $1.78. 1,055,547 shares were traded during mid-day trading, a decline of 83% from the average session volume of 6,126,471 shares. The stock had previously closed at $1.72.

Analyst Ratings Changes

A number of brokerages recently commented on NGD. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of New Gold in a research note on Monday, April 8th. Scotiabank raised their price objective on New Gold from $1.65 to $2.00 and gave the company a “sector perform” rating in a research report on Monday, April 8th. Finally, StockNews.com lowered New Gold from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $1.64.

New Gold Price Performance

The firm has a market capitalization of $1.21 billion, a P/E ratio of 24.71, a PEG ratio of 0.92 and a beta of 1.54. The company has a quick ratio of 0.98, a current ratio of 1.54 and a debt-to-equity ratio of 0.51.

New Gold (NYSEAMERICAN:NGD) last released its quarterly earnings results on Tuesday, February 13th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The firm had revenue of $199.20 million for the quarter. New Gold had a negative net margin of 8.20% and a positive return on equity of 5.63%. On average, analysts predict that New Gold Inc. will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New Gold

Large investors have recently made changes to their positions in the company. Citigroup Inc. lifted its position in shares of New Gold by 127.1% during the 1st quarter. Citigroup Inc. now owns 22,707 shares of the basic materials company’s stock valued at $41,000 after buying an additional 12,707 shares in the last quarter. Gotham Asset Management LLC lifted its position in shares of New Gold by 22.8% during the 4th quarter. Gotham Asset Management LLC now owns 73,461 shares of the basic materials company’s stock valued at $107,000 after buying an additional 13,655 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of New Gold by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 806,010 shares of the basic materials company’s stock valued at $1,451,000 after buying an additional 13,914 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of New Gold by 47.4% during the 1st quarter. Bank of New York Mellon Corp now owns 43,611 shares of the basic materials company’s stock valued at $78,000 after buying an additional 14,033 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of New Gold by 4.4% during the 3rd quarter. UBS Group AG now owns 334,796 shares of the basic materials company’s stock valued at $294,000 after buying an additional 14,179 shares in the last quarter. 42.82% of the stock is currently owned by institutional investors.

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.