Shares of New Gold Inc. (NYSE:NGD – Get Free Report) have received an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $2.18.
Several research analysts have commented on the stock. BMO Capital Markets started coverage on shares of New Gold in a report on Friday, May 31st. They issued an “outperform” rating and a $3.50 price target for the company. StockNews.com cut New Gold from a “buy” rating to a “hold” rating in a research report on Friday, May 31st. TD Securities raised New Gold from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. Cibc World Mkts upgraded New Gold to a “strong-buy” rating in a research report on Wednesday. Finally, National Bank Financial upgraded shares of New Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th.
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Institutional Investors Weigh In On New Gold
New Gold Price Performance
New Gold stock opened at $2.37 on Friday. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -23.70 and a beta of 1.32. New Gold has a one year low of $0.86 and a one year high of $2.46. The company has a quick ratio of 0.89, a current ratio of 1.51 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average of $2.02.
New Gold (NYSE:NGD – Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. New Gold had a positive return on equity of 5.23% and a negative net margin of 9.81%. The firm had revenue of $192.10 million for the quarter. Sell-side analysts expect that New Gold will post 0.15 earnings per share for the current fiscal year.
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.
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