New Gold Inc. (NYSEAMERICAN:NGD) Receives Average Rating of “Hold” from Brokerages

New Gold Inc. (NYSEAMERICAN:NGD) has received a consensus recommendation of “Hold” from the five brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $1.64.

A number of research analysts have recently commented on NGD shares. Scotiabank increased their price objective on New Gold from $1.65 to $2.00 and gave the company a “sector perform” rating in a report on Monday, April 8th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of New Gold in a research report on Monday, April 8th. Finally, StockNews.com downgraded New Gold from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th.

New Gold Stock Up 1.1 %

NGD opened at $1.82 on Tuesday. New Gold has a fifty-two week low of $0.86 and a fifty-two week high of $1.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.54 and a quick ratio of 0.98. The stock has a market cap of $1.26 billion, a PE ratio of -20.22, a PEG ratio of 0.56 and a beta of 1.54.

New Gold (NYSEAMERICAN:NGD) last posted its quarterly earnings results on Tuesday, February 13th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). New Gold had a positive return on equity of 5.63% and a negative net margin of 8.20%. The firm had revenue of $199.20 million for the quarter. As a group, sell-side analysts anticipate that New Gold will post 0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its holdings in shares of New Gold by 35.8% in the third quarter. SG Americas Securities LLC now owns 324,687 shares of the basic materials company’s stock valued at $295,000 after purchasing an additional 85,605 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of New Gold by 147.3% in the third quarter. Mackenzie Financial Corp now owns 2,157,344 shares of the basic materials company’s stock valued at $2,124,000 after purchasing an additional 1,284,920 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in shares of New Gold in the third quarter valued at about $61,000. Heartland Advisors Inc. bought a new stake in shares of New Gold in the third quarter valued at about $3,185,000. Finally, Deutsche Bank AG lifted its holdings in shares of New Gold by 24.6% in the third quarter. Deutsche Bank AG now owns 2,824,635 shares of the basic materials company’s stock valued at $2,570,000 after purchasing an additional 556,765 shares in the last quarter. 42.82% of the stock is owned by institutional investors and hedge funds.

About New Gold

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.