New Gold Inc. (NGD) Receives $3.88 Average PT from Analysts

Shares of New Gold Inc. (NYSE:NGD) have received an average recommendation of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $3.88.

A number of analysts have recently commented on NGD shares. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $3.50 price target on shares of New Gold in a research note on Tuesday, May 16th. Zacks Investment Research raised New Gold from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Scotiabank reissued a “sector perform” rating and set a $3.00 target price on shares of New Gold in a research note on Wednesday, April 26th. National Bank Financial raised New Gold from a “sector perform” rating to an “outperform” rating in a research report on Monday, July 24th. Finally, TD Securities reaffirmed a “buy” rating and set a $5.00 price target on shares of New Gold in a research report on Friday, April 28th.

A number of large investors have recently made changes to their positions in NGD. World Asset Management Inc increased its stake in shares of New Gold by 6.8% in the second quarter. World Asset Management Inc now owns 33,894 shares of the company’s stock valued at $108,000 after buying an additional 2,162 shares in the last quarter. First Manhattan Co. acquired a new stake in shares of New Gold during the second quarter valued at about $135,000. Pacad Investment Ltd. increased its stake in shares of New Gold by 25.0% in the second quarter. Pacad Investment Ltd. now owns 46,500 shares of the company’s stock valued at $148,000 after buying an additional 9,300 shares in the last quarter. Advisor Group Inc. boosted its position in New Gold by 4.5% in the second quarter. Advisor Group Inc. now owns 46,794 shares of the company’s stock valued at $149,000 after buying an additional 2,000 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new position in New Gold during the first quarter valued at $166,000.

New Gold (NGD) traded down 0.59% during trading on Friday, reaching $3.37. 2,667,758 shares of the company’s stock traded hands. The company has a market capitalization of $1.94 billion and a price-to-earnings ratio of 34.74. The firm’s 50 day moving average is $3.17 and its 200-day moving average is $3.01. New Gold has a 12 month low of $2.39 and a 12 month high of $5.92.

New Gold (NYSE:NGD) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.02 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. The firm had revenue of $185.60 million during the quarter, compared to analysts’ expectations of $181.17 million. New Gold had a return on equity of 4.03% and a net margin of 12.45%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.02) EPS. Analysts expect that New Gold will post $0.06 EPS for the current fiscal year.

New Gold Company Profile

New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.