New Gold Inc. (NYSE:NGD) Receives Consensus Recommendation of “Buy” from Analysts

New Gold Inc. (NYSE:NGD) has received a consensus recommendation of “Buy” from the seven research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $3.60.

NGD has been the topic of a number of analyst reports. CIBC lowered their price target on New Gold from $3.60 to $3.40 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Scotiabank upped their price target on New Gold from $3.50 to $4.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 13th.

New Gold Stock Performance

Shares of NYSE NGD opened at $3.33 on Friday. The business has a fifty day simple moving average of $2.92 and a 200 day simple moving average of $2.82. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 25.62 and a beta of 1.35. New Gold has a one year low of $1.56 and a one year high of $3.48.

Institutional Trading of New Gold

Large investors have recently made changes to their positions in the business. SIH Partners LLLP bought a new stake in shares of New Gold during the fourth quarter worth $27,000. Tudor Investment Corp ET AL bought a new position in New Gold in the fourth quarter valued at about $27,000. DGS Capital Management LLC bought a new position in New Gold in the fourth quarter valued at about $30,000. Samalin Investment Counsel LLC bought a new position in New Gold in the fourth quarter valued at about $32,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in New Gold in the fourth quarter valued at about $39,000. Institutional investors own 42.82% of the company’s stock.

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.