New Gold Inc. (NYSEAMERICAN:NGD) Receives $1.64 Consensus Target Price from Analysts

Shares of New Gold Inc. (NYSEAMERICAN:NGD) have received a consensus recommendation of “Hold” from the five analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $1.64.

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

New Gold Price Performance

Shares of NGD opened at $1.84 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $1.27 billion, a PE ratio of -20.44, a P/E/G ratio of 0.57 and a beta of 1.54. New Gold has a 52 week low of $0.86 and a 52 week high of $1.94.

New Gold (NYSEAMERICAN:NGD) last announced 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). 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 during the quarter. On average, analysts forecast that New Gold will post 0.09 EPS for the current year.

Hedge Funds Weigh In On New Gold

A number of institutional investors have recently bought and sold shares of NGD. First Citizens Bank & Trust Co. purchased a new position in New Gold during the third quarter valued at approximately $61,000. Independent Family Office LLC purchased a new position in shares of New Gold during the 4th quarter valued at $123,000. Baader Bank Aktiengesellschaft boosted its holdings in New Gold by 812.7% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 91,267 shares of the basic materials company’s stock worth $132,000 after buying an additional 81,267 shares during the period. Ingalls & Snyder LLC increased its stake in New Gold by 116.6% in the 4th quarter. Ingalls & Snyder LLC now owns 123,842 shares of the basic materials company’s stock worth $181,000 after buying an additional 66,667 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in New Gold during the fourth quarter valued at about $206,000. 42.82% of the stock is 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.