New Gold (NYSEAMERICAN:NGD) Shares Up 5.2%

New Gold Inc. (NYSEAMERICAN:NGD - Get Free Report) shares traded up 5.2% during mid-day trading on Friday . The company traded as high as $1.83 and last traded at $1.82. 6,314,834 shares traded hands during trading, an increase of 10% from the average session volume of 5,721,724 shares. The stock had previously closed at $1.73.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NGD shares. StockNews.com lowered New Gold from a "buy" rating to a "hold" rating in a research report on Sunday, January 14th. National Bank Financial reiterated a "sector perform spec overwgt" rating on shares of New Gold in a research note on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $1.55.

New Gold Stock Up 4.3 %

The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -20.22 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 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 positive return on equity of 5.63% and a negative net margin of 8.20%. The firm had revenue of $199.20 million for the quarter. Equities analysts forecast that New Gold Inc. will post 0.06 EPS for the current year.

Hedge Funds Weigh In On New Gold

Institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC bought a new position in New Gold during the third quarter valued at about $25,000. Virtu Financial LLC bought a new position in New Gold during the first quarter valued at about $33,000. CreativeOne Wealth LLC bought a new position in New Gold during the second quarter valued at about $33,000. Quantbot Technologies LP bought a new position in New Gold during the second quarter valued at about $33,000. Finally, ExodusPoint Capital Management LP bought a new position in New Gold during the second quarter valued at about $33,000. 42.82% of the stock is owned by institutional investors and hedge funds.

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.