National Bank Financial cut shares of New Gold (NYSEAMERICAN:NGD) from an outperform spec overweight rating to a sector perform spec overwgt rating in a research report released on Wednesday.

A number of other equities analysts have also weighed in on the stock. Raymond James cut their target price on shares of New Gold from $3.00 to $2.00 and set a market perform rating for the company in a research report on Friday, July 27th. Canaccord Genuity lowered shares of New Gold from a buy rating to a sell rating in a research report on Thursday, July 26th. TD Securities lowered shares of New Gold from a buy rating to a hold rating and cut their price objective for the company from $4.50 to $2.50 in a research report on Wednesday, June 20th. Scotiabank upgraded shares of New Gold from a sector perform rating to an outperform rating and set a $4.00 price objective for the company in a research report on Thursday, May 10th. Finally, Credit Suisse Group lowered shares of New Gold from a neutral rating to an underperform rating and cut their price objective for the company from $2.20 to $1.60 in a research report on Thursday, July 26th. Five investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $2.85.

New Gold traded down $0.02, reaching $1.12, during trading hours on Wednesday, according to MarketBeat. 3,071,824 shares of the company were exchanged, compared to its average volume of 5,039,303. New Gold has a 1 year low of $1.11 and a 1 year high of $4.25. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.38 and a current ratio of 2.28.

A number of large investors have recently modified their holdings of NGD. Commonwealth Equity Services LLC boosted its stake in New Gold by 26.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 103,765 shares of the basic materials company’s stock worth $267,000 after purchasing an additional 21,800 shares during the period. Alps Advisors Inc. boosted its position in shares of New Gold by 1.1% during the 1st quarter. Alps Advisors Inc. now owns 2,540,165 shares of the basic materials company’s stock valued at $6,554,000 after acquiring an additional 26,457 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in shares of New Gold by 19.8% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 187,898 shares of the basic materials company’s stock valued at $485,000 after acquiring an additional 31,034 shares during the last quarter. Neuberger Berman Group LLC boosted its position in shares of New Gold by 114.0% during the 1st quarter. Neuberger Berman Group LLC now owns 61,775 shares of the basic materials company’s stock valued at $159,000 after acquiring an additional 32,913 shares during the last quarter. Finally, TSP Capital Management Group LLC boosted its position in shares of New Gold by 2.0% during the 1st quarter. TSP Capital Management Group LLC now owns 1,921,300 shares of the basic materials company’s stock valued at $4,957,000 after acquiring an additional 37,500 shares during the last quarter. 51.53% of the stock is owned by institutional investors and hedge funds.

About New Gold

New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the New Afton project located near Kamloops, British Columbia, Canada; the Mesquite mine located in Imperial County, California, the United States; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

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Analyst Recommendations for New Gold (NYSEAMERICAN:NGD)

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