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 a consensus rating of "Hold" by the five research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $1.64.

Several analysts have recently weighed in on the stock. National Bank Financial reaffirmed a "sector perform spec overwgt" rating on shares of New Gold in a research note on Monday, April 8th. Scotiabank lifted their price target on shares of New Gold from $1.65 to $2.00 and gave the company a "sector perform" rating in a research note on Monday, April 8th. Finally, StockNews.com downgraded shares of New Gold from a "buy" rating to a "hold" rating in a research note on Sunday, January 14th.

Institutional Investors Weigh In On New Gold

Large investors have recently made changes to their positions in the stock. HC Advisors LLC boosted its holdings in New Gold by 13.4% in the fourth quarter. HC Advisors LLC now owns 214,559 shares of the basic materials company's stock valued at $313,000 after purchasing an additional 25,300 shares during the last quarter. American Century Companies Inc. boosted its holdings in New Gold by 1.0% in the third quarter. American Century Companies Inc. now owns 5,095,417 shares of the basic materials company's stock valued at $4,669,000 after purchasing an additional 48,886 shares during the last quarter. Ingalls & Snyder LLC boosted its holdings in New Gold by 116.6% in the fourth quarter. Ingalls & Snyder LLC now owns 123,842 shares of the basic materials company's stock valued at $181,000 after purchasing an additional 66,667 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new stake in New Gold in the third quarter valued at $61,000. Finally, Baader Bank Aktiengesellschaft boosted its holdings in New Gold by 812.7% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 91,267 shares of the basic materials company's stock valued at $132,000 after purchasing an additional 81,267 shares during the last quarter. 42.82% of the stock is owned by hedge funds and other institutional investors.

New Gold Trading Up 0.3 %

NGD traded up $0.01 on Tuesday, hitting $1.73. The company had a trading volume of 8,872,850 shares, compared to its average volume of 6,354,269. The firm has a market cap of $1.19 billion, a P/E ratio of -19.16, a P/E/G ratio of 1.16 and a beta of 1.54. New Gold has a 12-month low of $0.86 and a 12-month high of $1.94. 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 (NYSEAMERICAN:NGD - Get Free Report) last announced its earnings results on Tuesday, February 13th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $199.20 million for the quarter. As a group, research analysts forecast that New Gold will post 0.04 EPS for the current year.

New Gold Company Profile

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.