Brokerages Set New Gold Inc. (NYSE:NGD) PT at $4.04

Shares of New Gold Inc. (NYSE:NGD - Get Free Report) have been assigned a consensus rating of "Buy" from the seven research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $4.13.

NGD has been the subject of a number of analyst reports. National Bank Financial upgraded shares of New Gold to a "strong-buy" rating in a research report on Friday, March 21st. National Bankshares reissued an "outperform" rating on shares of New Gold in a research note on Wednesday, April 2nd. New Street Research set a $3.90 price objective on shares of New Gold in a research note on Wednesday, March 26th. Wall Street Zen raised shares of New Gold from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, Raymond James set a $4.00 price objective on shares of New Gold and gave the company a "market perform" rating in a research note on Friday, April 4th.

New Gold Price Performance

Shares of NYSE NGD traded up $0.06 during midday trading on Wednesday, reaching $4.45. The company's stock had a trading volume of 25,832,476 shares, compared to its average volume of 13,333,340. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. New Gold has a fifty-two week low of $1.90 and a fifty-two week high of $4.48. The business's 50 day moving average price is $3.74 and its two-hundred day moving average price is $3.15. The company has a market cap of $3.52 billion, a P/E ratio of 34.23 and a beta of 0.54.

Institutional Trading of New Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC grew its stake in shares of New Gold by 17.8% during the first quarter. Hsbc Holdings PLC now owns 25,176 shares of the company's stock worth $93,000 after buying an additional 3,808 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of New Gold by 0.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,471,000 shares of the company's stock worth $3,669,000 after buying an additional 4,500 shares during the last quarter. Oxbow Advisors LLC grew its stake in shares of New Gold by 1.7% during the fourth quarter. Oxbow Advisors LLC now owns 277,000 shares of the company's stock worth $687,000 after buying an additional 4,624 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of New Gold by 11.9% during the fourth quarter. Bank of New York Mellon Corp now owns 50,292 shares of the company's stock worth $125,000 after buying an additional 5,331 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of New Gold by 0.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 910,656 shares of the company's stock worth $2,258,000 after buying an additional 7,367 shares during the last quarter. Institutional investors own 42.82% of the company's stock.

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.