New Gold (NYSEAMERICAN:NGD) Stock Price Up 3.2%

New Gold Inc. (NYSEAMERICAN:NGD) rose 3.2% during mid-day trading on Wednesday . The stock traded as high as $1.79 and last traded at $1.78. Approximately 1,055,547 shares were traded during trading, a decline of 83% from the average daily volume of 6,126,471 shares. The stock had previously closed at $1.72.

Analyst Ratings Changes

NGD has been the subject of several analyst reports. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of New Gold in a report on Monday, April 8th. StockNews.com cut shares of New Gold from a “buy” rating to a “hold” rating in a report on Sunday, January 14th. Finally, Scotiabank upped 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, April 8th. One equities 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $1.64.

New Gold Stock Up 2.3 %

The company has a current ratio of 1.54, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The company has a market cap of $1.21 billion, a P/E ratio of 25.14, a price-to-earnings-growth ratio of 0.93 and a beta of 1.54.

New Gold (NYSEAMERICAN:NGD) last issued its earnings results on Tuesday, February 13th. The basic materials company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). New Gold had a negative net margin of 8.20% and a positive return on equity of 5.63%. The business had revenue of $199.20 million during the quarter. As a group, sell-side analysts forecast that New Gold Inc. will post 0.05 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC acquired a new position in shares of New Gold in the 3rd quarter valued at about $25,000. Virtu Financial LLC acquired a new position in shares of New Gold in the 1st quarter valued at about $33,000. CreativeOne Wealth LLC acquired a new position in shares of New Gold in the 2nd quarter valued at about $33,000. Quantbot Technologies LP acquired a new position in shares of New Gold in the 2nd quarter valued at about $33,000. Finally, ExodusPoint Capital Management LP acquired a new position in shares of New Gold in the 2nd quarter valued at 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.