Shares of New Gold Inc. (NYSE:NGD - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $4.18, but opened at $3.98. New Gold shares last traded at $3.83, with a volume of 2,845,979 shares.
Analysts Set New Price Targets
NGD has been the subject of several recent analyst reports. Scotiabank restated an "outperform" rating on shares of New Gold in a research note on Monday, April 14th. Raymond James set a $4.00 price target on New Gold and gave the stock a "market perform" rating in a research note on Friday, April 4th. National Bankshares restated an "outperform" rating on shares of New Gold in a research note on Wednesday, April 2nd. CIBC boosted their price target on New Gold from $3.40 to $4.75 and gave the stock an "outperformer" rating in a research note on Thursday. Finally, New Street Research set a $3.90 price target on New Gold in a research note on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $4.04.
Read Our Latest Stock Analysis on New Gold
New Gold Stock Performance
The company has a market cap of $2.99 billion, a PE ratio of 28.96 and a beta of 0.54. 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 business has a 50-day moving average of $3.44 and a 200 day moving average of $3.00.
Institutional Trading of New Gold
Hedge funds have recently bought and sold shares of the company. SIH Partners LLLP purchased a new stake in New Gold in the fourth quarter worth about $27,000. Tudor Investment Corp ET AL purchased a new stake in New Gold in the fourth quarter worth about $27,000. DGS Capital Management LLC purchased a new stake in New Gold in the fourth quarter worth about $30,000. Samalin Investment Counsel LLC purchased a new stake in New Gold in the fourth quarter worth about $32,000. Finally, Cary Street Partners Financial LLC purchased a new stake in New Gold in the first quarter worth about $37,000. Hedge funds and other institutional investors own 42.82% of the company's stock.
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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