New Gold Inc. (NYSE:NGD - Get Free Report) shares reached a new 52-week high on Friday . The stock traded as high as $4.98 and last traded at $4.94, with a volume of 12444977 shares trading hands. The stock had previously closed at $4.88.
Analyst Ratings Changes
NGD has been the subject of several research analyst reports. Scotiabank reaffirmed an "outperform" rating on shares of New Gold in a research note on Monday, April 14th. CIBC raised their target price on shares of New Gold from $3.40 to $4.75 and gave the company an "outperformer" rating in a research note on Thursday, May 8th. Wall Street Zen raised shares of New Gold from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Bank of America raised shares of New Gold from an "underperform" rating to a "buy" rating and raised their target price for the company from $2.60 to $3.90 in a research note on Wednesday, March 26th. Finally, National Bank Financial raised shares of New Gold to a "strong-buy" rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, New Gold presently has an average rating of "Buy" and a consensus target price of $4.13.
Check Out Our Latest Report on NGD
New Gold Stock Down 1.2%
The firm has a market capitalization of $3.84 billion, a PE ratio of 37.31 and a beta of 0.44. The business's 50 day simple moving average is $4.05 and its 200 day simple moving average is $3.31. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. Pale Fire Capital SE purchased a new stake in shares of New Gold in the 1st quarter worth $23,920,000. Hillsdale Investment Management Inc. lifted its stake in New Gold by 97.1% in the fourth quarter. Hillsdale Investment Management Inc. now owns 9,482,782 shares of the company's stock worth $23,657,000 after acquiring an additional 4,671,399 shares during the period. JGP Global Gestao de Recursos Ltda. grew its holdings in New Gold by 64.4% during the 1st quarter. JGP Global Gestao de Recursos Ltda. now owns 10,687,997 shares of the company's stock worth $39,652,000 after acquiring an additional 4,187,997 shares in the last quarter. Dimensional Fund Advisors LP increased its position in New Gold by 97.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,944,585 shares of the company's stock valued at $14,742,000 after purchasing an additional 2,931,470 shares during the period. Finally, American Century Companies Inc. increased its position in New Gold by 23.7% during the 1st quarter. American Century Companies Inc. now owns 15,149,653 shares of the company's stock valued at $56,033,000 after purchasing an additional 2,898,895 shares during the period. 42.82% of the stock is currently owned by hedge funds and other 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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