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

New Gold Inc. (NYSE:NGD) has received a consensus recommendation of “Buy” from the six brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $3.41.

Separately, StockNews.com upgraded shares of New Gold from a “hold” rating to a “buy” rating in a report on Friday, October 25th.

New Gold Stock Performance

Shares of NGD opened at $2.81 on Thursday. New Gold has a one year low of $1.09 and a one year high of $3.25. The company has a market cap of $2.22 billion, a PE ratio of 140.50 and a beta of 1.34. The stock has a 50-day moving average of $2.70 and a 200-day moving average of $2.64. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.84.

New Gold (NYSE:NGD) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. New Gold had a return on equity of 9.38% and a net margin of 2.33%. The firm had revenue of $252.00 million during the quarter. On average, equities research analysts predict that New Gold will post 0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On New Gold

Hedge funds have recently made changes to their positions in the business. Morton Capital Management LLC CA increased its holdings in New Gold by 18.9% during the third quarter. Morton Capital Management LLC CA now owns 31,494 shares of the company’s stock worth $91,000 after buying an additional 5,000 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of New Gold by 15.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 47,722 shares of the company’s stock worth $93,000 after purchasing an additional 6,252 shares during the period. Captrust Financial Advisors lifted its stake in New Gold by 17.6% in the third quarter. Captrust Financial Advisors now owns 44,700 shares of the company’s stock valued at $129,000 after purchasing an additional 6,700 shares during the last quarter. Geode Capital Management LLC grew its holdings in New Gold by 2.0% during the third quarter. Geode Capital Management LLC now owns 372,373 shares of the company’s stock valued at $1,084,000 after purchasing an additional 7,394 shares during the period. Finally, Kohmann Bosshard Financial Services LLC increased its position in New Gold by 34.6% in the third quarter. Kohmann Bosshard Financial Services LLC now owns 35,000 shares of the company’s stock worth $101,000 after buying an additional 9,000 shares during the last quarter. 42.82% of the stock is currently owned by institutional investors.

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.