New Gold Inc. (NYSE:NGD - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $5.16 and last traded at $5.06, with a volume of 2339758 shares traded. The stock had previously closed at $4.95.
Wall Street Analyst Weigh In
Several analysts recently issued reports on NGD shares. Raymond James Financial raised New Gold to a "hold" rating and set a $4.00 target price on the stock in a research note on Monday. Scotiabank restated an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. Bank of America upgraded shares of New Gold from an "underperform" rating to a "buy" rating and lifted their price target for the company from $2.60 to $3.90 in a report on Wednesday, March 26th. National Bank Financial raised shares of New Gold to a "strong-buy" rating in a report on Friday, March 21st. Finally, CIBC lifted their target price on New Gold from $3.40 to $4.75 and gave the stock an "outperformer" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $4.13.
Read Our Latest Analysis on NGD
New Gold Stock Performance
The business's fifty day moving average price is $4.43 and its two-hundred day moving average price is $3.50. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. The stock has a market capitalization of $3.91 billion, a P/E ratio of 38.03 and a beta of 0.45.
Institutional Investors Weigh In On New Gold
A number of institutional investors and hedge funds have recently modified their holdings of the business. Cary Street Partners Financial LLC purchased a new stake in New Gold in the first quarter worth $37,000. SIH Partners LLLP bought a new position in shares of New Gold in the fourth quarter worth about $27,000. Tudor Investment Corp ET AL purchased a new position in New Gold in the 4th quarter worth about $27,000. Nwam LLC bought a new stake in New Gold during the 1st quarter valued at about $45,000. Finally, Samalin Investment Counsel LLC purchased a new stake in New Gold in the 4th quarter valued at about $32,000. 42.82% of the stock is owned by institutional investors.
New Gold Company Profile
(
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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