National Bank Financial Reiterates Sector Perform Spec Overwgt Rating for New Gold (NYSEAMERICAN:NGD)

New Gold (NYSEAMERICAN:NGD - Get Free Report)'s stock had its "sector perform spec overwgt" rating reissued by equities researchers at National Bank Financial in a research report issued on Monday.

Several other equities analysts also recently commented on the stock. Scotiabank increased their target price on shares of New Gold from $1.65 to $2.00 and gave the stock a "sector perform" rating in a research report on Monday. StockNews.com downgraded shares of New Gold from a "buy" rating to a "hold" rating in a research report on Sunday, January 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, New Gold currently has an average rating of "Hold" and a consensus price target of $1.64.

New Gold Price Performance

Shares of NYSEAMERICAN:NGD traded down $0.04 during midday trading on Monday, hitting $1.80. 14,373,442 shares of the stock were exchanged, compared to its average volume of 6,098,470. 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 has a 52-week low of $0.86 and a 52-week high of $1.94. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -20.00, a P/E/G ratio of 4.80 and a beta of 1.54.

New Gold (NYSEAMERICAN:NGD - Get Free Report) last announced its quarterly earnings data 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. As a group, sell-side analysts predict that New Gold will post 0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New Gold

Hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC bought a new stake in shares of New Gold in the third quarter valued at about $25,000. Virtu Financial LLC bought a new stake in shares of New Gold in the first quarter valued at about $33,000. CreativeOne Wealth LLC bought a new stake in shares of New Gold in the second quarter valued at about $33,000. Quantbot Technologies LP bought a new stake in shares of New Gold in the second quarter valued at about $33,000. Finally, ExodusPoint Capital Management LP bought a new position in New Gold during the second quarter worth about $33,000. 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.