New Gold Inc. (NYSE:NGD - Get Free Report) saw strong trading volume on Monday . 30,733,147 shares changed hands during trading, an increase of 129% from the previous session's volume of 13,407,409 shares.The stock last traded at $4.58 and had previously closed at $4.45.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the stock. Raymond James set a $4.00 price target on shares of New Gold and gave the company a "market perform" rating in a report on Friday, April 4th. National Bankshares reaffirmed an "outperform" rating on shares of New Gold in a report on Wednesday, April 2nd. Bank of America raised shares of New Gold from an "underperform" rating to a "buy" rating and boosted their target price for the stock from $2.60 to $3.90 in a report on Wednesday, March 26th. Wall Street Zen raised shares of New Gold from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, National Bank Financial raised shares of New Gold to a "strong-buy" rating in a report on Friday, March 21st. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $4.13.
View Our Latest Stock Analysis on New Gold
New Gold Trading Up 0.4%
The company has a market cap of $3.71 billion, a PE ratio of 36.08 and a beta of 0.54. The stock's 50 day moving average is $3.80 and its 200-day moving average is $3.18. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38.
Institutional Investors Weigh In On New Gold
Hedge funds and other institutional investors have recently made changes to their positions in the company. Cary Street Partners Financial LLC purchased a new stake in shares of New Gold in the first quarter valued at $37,000. SIH Partners LLLP purchased a new position in New Gold in the 4th 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 purchased a new position in New Gold in the 1st quarter worth about $45,000. Finally, Samalin Investment Counsel LLC purchased a new position in New Gold in the 4th quarter worth about $32,000. Hedge funds and other 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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