New Gold (NYSEAMERICAN:NGD) Stock Price Up 10.4%

New Gold Inc. (NYSEAMERICAN:NGD - Get Free Report) shot up 10.4% during mid-day trading on Wednesday . The stock traded as high as $1.93 and last traded at $1.92. 2,919,806 shares traded hands during trading, a decline of 53% from the average session volume of 6,268,231 shares. The stock had previously closed at $1.74.

Analysts Set New Price Targets

NGD has been the subject of several recent analyst reports. StockNews.com downgraded New Gold from a "buy" rating to a "hold" rating in a research report on Sunday, January 14th. National Bank Financial reissued a "sector perform spec overwgt" rating on shares of New Gold in a research note on Monday, April 8th. Finally, Scotiabank raised 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $1.64.

New Gold Stock Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.54. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -20.78, a price-to-earnings-growth ratio of 0.57 and a beta of 1.54.

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 (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The business 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%. On average, analysts expect that New Gold Inc. will post 0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. First Citizens Bank & Trust Co. bought a new position in shares of New Gold during the 3rd quarter worth approximately $61,000. Independent Family Office LLC purchased a new position in New Gold in the fourth quarter valued at about $123,000. Baader Bank Aktiengesellschaft grew its position in shares of New Gold by 812.7% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 91,267 shares of the basic materials company's stock valued at $132,000 after acquiring an additional 81,267 shares during the period. Ingalls & Snyder LLC increased its stake in shares of New Gold by 116.6% during the 4th quarter. Ingalls & Snyder LLC now owns 123,842 shares of the basic materials company's stock worth $181,000 after purchasing an additional 66,667 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of New Gold in the 4th quarter worth approximately $206,000. 42.82% of the stock is owned by institutional investors.

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.