New Gold Inc (NYSEAMERICAN:NGD) saw a large decrease in short interest in January. As of January 31st, there was short interest totalling 9,208,952 shares, a decrease of 8.0% from the January 15th total of 10,009,519 shares. Based on an average daily trading volume, of 3,041,479 shares, the short-interest ratio is presently 3.0 days.
Several research analysts recently issued reports on NGD shares. Zacks Investment Research raised New Gold from a “strong sell” rating to a “hold” rating in a research report on Friday, October 26th. Raymond James set a $1.25 target price on New Gold and gave the company a “market perform” rating in a research report on Friday, October 26th. BMO Capital Markets reaffirmed a “hold” rating on shares of New Gold in a research report on Thursday, November 1st. National Bank Financial reaffirmed a “hold” rating on shares of New Gold in a research report on Monday, November 12th. Finally, CIBC reaffirmed a “hold” rating on shares of New Gold in a research report on Sunday, December 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $1.75.
Shares of NGD opened at $1.24 on Thursday. New Gold has a 52 week low of $0.69 and a 52 week high of $2.92.
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About New Gold
New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the New Afton project located near Kamloops, British Columbia, Canada; the Mesquite mine located in Imperial County, California, the United States; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.
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