New Gold (NYSEAMERICAN:NGD) Shares Gap Down to $1.75

New Gold Inc. (NYSEAMERICAN:NGD - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $1.75, but opened at $1.69. New Gold shares last traded at $1.73, with a volume of 5,030,425 shares traded.

Analyst Ratings Changes

NGD has been the subject of a number of research analyst reports. StockNews.com lowered shares of New Gold from a "buy" rating to a "hold" rating in a research note on Sunday, January 14th. Scotiabank upped their price target on shares of New Gold from $1.65 to $2.00 and gave the stock a "sector perform" rating in a research note on Monday, April 8th. Finally, National Bank Financial reaffirmed a "sector perform spec overwgt" rating on shares of New Gold in a research note on Monday, April 8th. One equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $1.64.

New Gold Price Performance

The company has a market cap of $1.19 billion, a price-to-earnings ratio of -19.11, a P/E/G ratio of 1.16 and a beta of 1.54. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.54.

New Gold (NYSEAMERICAN:NGD - Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The basic materials company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company had revenue of $199.20 million during the quarter. New Gold had a negative net margin of 8.20% and a positive return on equity of 5.63%. Equities research analysts expect that New Gold Inc. will post 0.04 earnings per share for the current year.

Institutional Trading of New Gold

Several large investors have recently added to or reduced their stakes in NGD. Quadrature Capital Ltd boosted its holdings in shares of New Gold by 205.3% during the 4th quarter. Quadrature Capital Ltd now owns 1,635,733 shares of the basic materials company's stock worth $2,374,000 after buying an additional 1,099,933 shares during the period. Virtu Financial LLC bought a new stake in shares of New Gold during the 4th quarter worth $206,000. Invenomic Capital Management LP boosted its holdings in shares of New Gold by 19.6% during the 4th quarter. Invenomic Capital Management LP now owns 10,101,164 shares of the basic materials company's stock worth $14,748,000 after buying an additional 1,654,396 shares during the period. CIBC Asset Management Inc bought a new stake in shares of New Gold during the 4th quarter worth $893,000. Finally, TD Asset Management Inc boosted its holdings in shares of New Gold by 33.5% during the 4th quarter. TD Asset Management Inc now owns 4,694,483 shares of the basic materials company's stock worth $6,836,000 after buying an additional 1,178,194 shares during the period. 42.82% of the stock is owned by 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.