New Gold Inc. (NGD) Receives Average Rating of “Hold” from Analysts
New Gold Inc. (NYSE:NGD) has earned an average rating of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $3.88.
A number of research firms have issued reports on NGD. Zacks Investment Research upgraded shares of New Gold from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Royal Bank Of Canada reiterated a “hold” rating and set a $3.50 target price on shares of New Gold in a report on Tuesday, May 16th. Raymond James Financial, Inc. reiterated a “market perform” rating and set a $3.50 target price on shares of New Gold in a report on Thursday, June 15th. National Bank Financial upgraded shares of New Gold from a “sector perform” rating to an “outperform” rating in a report on Monday, July 24th. Finally, TD Securities reiterated a “buy” rating and set a $5.00 target price on shares of New Gold in a report on Friday, April 28th.
New Gold (NYSE NGD) traded down 0.59% during mid-day trading on Tuesday, hitting $3.37. 901,115 shares of the stock traded hands. The stock has a market cap of $1.94 billion and a P/E ratio of 34.74. The stock has a 50-day moving average price of $3.16 and a 200-day moving average price of $3.02. New Gold has a 12 month low of $2.39 and a 12 month high of $5.92.
New Gold (NYSE:NGD) last released its earnings results on Wednesday, July 26th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.02. The company had revenue of $185.60 million for the quarter, compared to analyst estimates of $181.17 million. New Gold had a net margin of 12.45% and a return on equity of 4.03%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.02) EPS. On average, equities analysts forecast that New Gold will post $0.06 earnings per share for the current year.
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A number of large investors have recently added to or reduced their stakes in the company. World Asset Management Inc raised its stake in New Gold by 6.8% in the second quarter. World Asset Management Inc now owns 33,894 shares of the company’s stock worth $108,000 after buying an additional 2,162 shares during the period. First Manhattan Co. acquired a new stake in New Gold during the second quarter worth about $135,000. Pacad Investment Ltd. raised its stake in New Gold by 25.0% in the second quarter. Pacad Investment Ltd. now owns 46,500 shares of the company’s stock worth $148,000 after buying an additional 9,300 shares during the period. Advisor Group Inc. raised its stake in New Gold by 4.5% in the second quarter. Advisor Group Inc. now owns 46,794 shares of the company’s stock worth $149,000 after buying an additional 2,000 shares during the period. Finally, AQR Capital Management LLC raised its stake in New Gold by 35.7% in the fourth quarter. AQR Capital Management LLC now owns 47,752 shares of the company’s stock worth $168,000 after buying an additional 12,572 shares during the period.
New Gold Company Profile
New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.
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