New Gold (NYSEAMERICAN:NGD) PT Raised to $2.00

New Gold (NYSEAMERICAN:NGD - Free Report) had its target price increased by Scotiabank from $1.65 to $2.00 in a report published on Monday, Benzinga reports. Scotiabank currently has a sector perform rating on the basic materials company's stock.

NGD has been the topic of several other reports. National Bank Financial reaffirmed a sector perform spec overwgt rating on shares of New Gold in a research note on Wednesday, January 3rd. StockNews.com lowered New Gold from a buy rating to a hold rating in a research report on Sunday, January 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, New Gold currently has an average rating of Hold and an average target price of $1.64.

New Gold Stock Down 3.8 %

NYSEAMERICAN:NGD traded down $0.07 during mid-day trading on Monday, reaching $1.75. The company's stock had a trading volume of 8,209,672 shares, compared to its average volume of 5,797,717. The company has a current ratio of 1.54, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. New Gold has a twelve month low of $0.86 and a twelve month high of $1.87. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -19.44 and a beta of 1.54.

New Gold (NYSEAMERICAN:NGD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). New Gold had a positive return on equity of 5.63% and a negative net margin of 8.20%. The business had revenue of $199.20 million during the quarter. On average, research analysts forecast that New Gold will post 0.06 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NGD. Hillsdale Investment Management Inc. boosted its position in New Gold by 222.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 16,216,173 shares of the basic materials company's stock valued at $23,508,000 after purchasing an additional 11,186,898 shares during the period. Mackenzie Financial Corp boosted its position in New Gold by 346.6% during the 4th quarter. Mackenzie Financial Corp now owns 9,635,055 shares of the basic materials company's stock worth $13,968,000 after acquiring an additional 7,477,711 shares during the period. Invesco Ltd. boosted its position in New Gold by 48.4% during the 1st quarter. Invesco Ltd. now owns 16,612,687 shares of the basic materials company's stock worth $29,903,000 after acquiring an additional 5,421,488 shares during the period. Heartland Advisors Inc. acquired a new position in New Gold during the 3rd quarter worth $3,185,000. Finally, Deutsche Bank AG acquired a new position in New Gold during the 4th quarter worth $2,634,000. Institutional investors and hedge funds own 42.82% of the company's stock.

About New Gold

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.