New Gold Inc. (NYSEAMERICAN:NGD) Given Consensus Rating of "Hold" by Brokerages

Shares of New Gold Inc. (NYSEAMERICAN:NGD - Get Free Report) have been given an average rating of "Hold" by the four research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $1.55.

A number of research analysts recently commented on the company. National Bank Financial restated a "sector perform spec overwgt" rating on shares of New Gold in a research note on Wednesday, January 3rd. StockNews.com downgraded New Gold from a "buy" rating to a "hold" rating in a research note on Sunday, January 14th.

New Gold Price Performance

NGD stock traded up $0.01 during midday trading on Friday, hitting $1.70. 8,058,158 shares of the company's stock were exchanged, compared to its average volume of 8,937,887. The company has a quick ratio of 0.98, a current ratio of 1.54 and a debt-to-equity ratio of 0.51. New Gold has a 12-month low of $0.86 and a 12-month high of $1.76. The company has a market capitalization of $1.17 billion, a PE ratio of -18.89 and a beta of 1.50.

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 for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). New Gold had a negative net margin of 8.20% and a positive return on equity of 5.63%. The firm had revenue of $199.20 million during the quarter. Analysts predict that New Gold will post 0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New Gold

Several hedge funds have recently bought and sold shares of NGD. Heartland Advisors Inc. purchased a new stake in shares of New Gold during the 3rd quarter worth about $3,185,000. Deutsche Bank AG raised its stake in shares of New Gold by 24.6% during the 3rd quarter. Deutsche Bank AG now owns 2,824,635 shares of the basic materials company's stock worth $2,570,000 after purchasing an additional 556,765 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of New Gold by 147.3% during the 3rd quarter. Mackenzie Financial Corp now owns 2,157,344 shares of the basic materials company's stock valued at $2,124,000 after acquiring an additional 1,284,920 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of New Gold by 1.0% during the 3rd quarter. American Century Companies Inc. now owns 5,095,417 shares of the basic materials company's stock valued at $4,669,000 after acquiring an additional 48,886 shares during the last quarter. Finally, Intact Investment Management Inc. increased its holdings in shares of New Gold by 6.9% during the 3rd quarter. Intact Investment Management Inc. now owns 2,792,200 shares of the basic materials company's stock valued at $2,570,000 after acquiring an additional 179,500 shares during the last quarter. 42.82% of the stock is owned by hedge funds and other institutional investors.

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.