New Gold Inc. (NYSE:NGD - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $3.98 and last traded at $3.83, with a volume of 6850015 shares changing hands. The stock had previously closed at $3.87.
Analyst Ratings Changes
A number of research firms recently weighed in on NGD. Raymond James set a $4.00 price objective on shares of New Gold and gave the stock a "market perform" rating in a report on Friday, April 4th. New Street Research set a $3.90 target price on New Gold in a report on Wednesday, March 26th. National Bank Financial upgraded shares of New Gold to a "strong-buy" rating in a report on Friday, March 21st. StockNews.com downgraded shares of New Gold from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Finally, Bank of America raised shares of New Gold from an "underperform" rating to a "buy" rating and boosted their price objective for the stock from $2.60 to $3.90 in a research note on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $3.85.
Read Our Latest Research Report on NGD
New Gold Stock Performance
The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. The stock has a 50-day moving average price of $3.39 and a 200-day moving average price of $2.99. The firm has a market capitalization of $3.25 billion, a PE ratio of 31.62 and a beta of 0.54.
Institutional Trading of New Gold
Several hedge funds have recently added to or reduced their stakes in NGD. SIH Partners LLLP acquired a new stake in shares of New Gold in the fourth quarter valued at about $27,000. Tudor Investment Corp ET AL purchased a new stake in New Gold during the 4th quarter valued at $27,000. DGS Capital Management LLC purchased a new position in New Gold during the 4th quarter valued at about $30,000. Samalin Investment Counsel LLC bought a new stake in New Gold in the 4th quarter worth approximately $32,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in New Gold in the 4th quarter valued at $39,000. Institutional investors own 42.82% of the company's stock.
About New Gold
(
Get Free Report)
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.
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