New Gold (NYSEAMERICAN:NGD) Shares Up 3.2%

New Gold Inc. (NYSEAMERICAN:NGD - Get Free Report)'s stock price shot up 3.2% during trading on Wednesday . The company traded as high as $1.79 and last traded at $1.78. 1,055,547 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 6,126,471 shares. The stock had previously closed at $1.72.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. National Bank Financial restated a "sector perform spec overwgt" rating on shares of New Gold in a research report on Monday, April 8th. Scotiabank upped their price target on 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 cut New Gold from a "buy" rating to a "hold" rating in a research note on Sunday, January 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $1.64.

New Gold Trading Up 0.6 %

The firm has a market cap of $1.19 billion, a PE ratio of -19.22, a price-to-earnings-growth ratio of 0.93 and a beta of 1.54. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.54 and a quick ratio of 0.98.

New Gold (NYSEAMERICAN:NGD - Get Free Report) last posted its 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 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 research analysts expect that New Gold Inc. will post 0.05 earnings per share for the current fiscal year.

Institutional Trading of New Gold

Several large investors have recently bought and sold shares of the business. Van ECK Associates Corp lifted its stake in shares of New Gold by 2.7% in the 4th quarter. Van ECK Associates Corp now owns 66,886,569 shares of the basic materials company's stock valued at $97,655,000 after acquiring an additional 1,775,882 shares during the last quarter. Invesco Ltd. raised its position in New Gold by 48.4% in the first quarter. Invesco Ltd. now owns 16,612,687 shares of the basic materials company's stock valued at $29,903,000 after purchasing an additional 5,421,488 shares during the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of New Gold by 222.4% during the fourth 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 in the last quarter. Renaissance Technologies LLC grew its holdings in shares of New Gold by 2.5% during the first quarter. Renaissance Technologies LLC now owns 14,605,864 shares of the basic materials company's stock worth $16,066,000 after purchasing an additional 353,200 shares during the last quarter. Finally, Invenomic Capital Management LP raised its holdings in New Gold by 19.6% in the 4th quarter. Invenomic Capital Management LP now owns 10,101,164 shares of the basic materials company's stock valued at $14,748,000 after buying an additional 1,654,396 shares during the last quarter. 42.82% of the stock is owned by institutional investors and hedge funds.

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.