Free Trial

New Gold (TSE:NGD) Trading Down 7.1% - Here's Why

New Gold logo with Basic Materials background

Key Points

  • New Gold Inc. (TSE: NGD) shares fell 7.1% during mid-day trading, with the stock trading as low as C$5.57.
  • Raymond James Financial upgraded New Gold to a "hold" rating, while the average analyst rating remains "Buy" with a target price of C$4.68.
  • Insiders have sold a total of 116,747 shares over the last ninety days, indicating potential concerns regarding the stock’s performance.
  • MarketBeat previews the top five stocks to own by August 1st.
  • Limited Time Offer: Unlock powerful research tools, advanced financial data, and expert insights to help you invest with confidence. Save 50% when you upgrade to MarketBeat All Access during the month of July. Claim your discount here.

New Gold Inc. (TSE:NGD - Get Free Report) ARCA: NGD's share price fell 7.1% during mid-day trading on Monday . The stock traded as low as C$5.57 and last traded at C$5.62. 1,055,328 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 1,867,475 shares. The stock had previously closed at C$6.05.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial raised New Gold to a "hold" rating in a research note on Monday, June 30th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of C$4.68.

View Our Latest Analysis on NGD

New Gold Stock Performance

The stock has a fifty day simple moving average of C$6.36 and a two-hundred day simple moving average of C$5.20. The stock has a market cap of C$3.11 billion, a price-to-earnings ratio of 154.62, a P/E/G ratio of -3.02 and a beta of 1.59. The company has a debt-to-equity ratio of 45.12, a quick ratio of 1.64 and a current ratio of 1.42.

Insiders Place Their Bets

In other New Gold news, Senior Officer Sean William Keating sold 25,000 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of C$6.26, for a total value of C$156,500.00. Also, Senior Officer Ankit Shah sold 42,699 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of C$5.67, for a total value of C$242,103.33. In the last ninety days, insiders sold 116,747 shares of company stock worth $663,463. Company insiders own 4.92% of the company's stock.

About New Gold

(Get Free Report)

New Gold Inc is an intermediate gold mining company. The company has a portfolio of two producing assets: Rainy River Mine and New Afton Mine in Canada. Also, it has interests in the Cerro San Pedro Mine in Mexico. The company derives revenue from the sale of Gold, Copper, and Silver.

See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in New Gold Right Now?

Before you consider New Gold, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New Gold wasn't on the list.

While New Gold currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

5G Stocks: The Path Forward is Profitable Cover

Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

ACT FAST! Congress is Dumping these 3 Stocks
3 “Boring” Mega Cap Stocks to Turn Into Pure Profit
Joby vs. Archer: The $10 Billion eVTOL Battle

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines