New Gold Inc. (NYSE:NGD) Given Consensus Rating of “Buy” by Brokerages

Shares of New Gold Inc. (NYSE:NGD) have received an average rating of “Buy” from the seven research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $3.60.

NGD has been the topic of several recent research reports. CIBC dropped their target price on New Gold from $3.60 to $3.40 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Scotiabank increased their target price on New Gold from $3.50 to $4.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 13th.

Institutional Trading of New Gold

Institutional investors have recently made changes to their positions in the business. SIH Partners LLLP acquired a new stake in shares of New Gold in the 4th quarter worth $27,000. Tudor Investment Corp ET AL acquired a new stake in New Gold during the 4th quarter worth about $27,000. DGS Capital Management LLC acquired a new stake in New Gold during the 4th quarter worth about $30,000. Samalin Investment Counsel LLC acquired a new stake in New Gold during the 4th quarter worth about $32,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in New Gold during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 42.82% of the company’s stock.

New Gold Stock Up 4.9 %

Shares of NYSE NGD opened at $3.23 on Friday. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $2.55 billion, a PE ratio of 24.85 and a beta of 1.35. The stock’s fifty day simple moving average is $2.84 and its two-hundred day simple moving average is $2.79. New Gold has a 12-month low of $1.52 and a 12-month high of $3.31.

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.