New Gold Inc. (NYSE:NGD - Get Free Report)'s share price dropped 4.7% on Tuesday . The stock traded as low as $4.90 and last traded at $4.81. Approximately 1,865,258 shares were traded during trading, a decline of 88% from the average daily volume of 15,038,574 shares. The stock had previously closed at $5.04.
Analyst Upgrades and Downgrades
NGD has been the topic of several analyst reports. New Street Research set a $3.90 price target on shares of New Gold in a report on Wednesday, March 26th. Wall Street Zen upgraded shares of New Gold from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Scotiabank restated an "outperform" rating on shares of New Gold in a report on Monday, April 14th. CIBC boosted their price target on shares of New Gold from $3.40 to $4.75 and gave the stock an "outperformer" rating in a report on Thursday, May 8th. Finally, National Bankshares restated an "outperform" rating on shares of New Gold in a report on Tuesday, June 24th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $4.13.
Read Our Latest Stock Analysis on New Gold
New Gold Trading Down 6.0%
The firm has a market cap of $3.75 billion, a P/E ratio of 36.46 and a beta of 0.45. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38. The firm's 50-day simple moving average is $4.49 and its 200 day simple moving average is $3.54.
Institutional Trading of New Gold
Hedge funds and other institutional investors have recently bought and sold shares of the company. SIH Partners LLLP bought a new stake in New Gold during the 4th quarter worth approximately $27,000. Tudor Investment Corp ET AL bought a new stake in New Gold during the 4th quarter worth approximately $27,000. Samalin Investment Counsel LLC bought a new stake in New Gold during the 4th quarter worth approximately $32,000. Cary Street Partners Financial LLC bought a new stake in New Gold during the 1st quarter worth approximately $37,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in New Gold during the 4th quarter worth approximately $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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