New Gold Inc. (NYSEAMERICAN:NGD – Get Free Report) has been given a consensus rating of “Hold” by the five brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $1.55.
A number of equities research analysts have recently weighed in on the stock. National Bank Financial restated a “sector perform spec overwgt” rating on shares of New Gold in a report on Wednesday, January 3rd. Raymond James lifted their price target on shares of New Gold from $1.50 to $1.75 and gave the stock a “market perform” rating in a research note on Tuesday, November 28th. TD Securities lifted their price target on shares of New Gold from $1.00 to $1.05 and gave the stock a “reduce” rating in a research note on Friday, October 27th. Finally, StockNews.com lowered shares of New Gold from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th.
New Gold Trading Up 4.2 %
Institutional Trading of New Gold
Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in New Gold during the first quarter worth about $33,000. Citigroup Inc. boosted its holdings in New Gold by 127.1% during the first quarter. Citigroup Inc. now owns 22,707 shares of the basic materials company’s stock worth $41,000 after buying an additional 12,707 shares in the last quarter. Commonwealth Equity Services LLC purchased a new stake in New Gold during the third quarter worth about $25,000. CreativeOne Wealth LLC purchased a new stake in New Gold during the second quarter worth about $33,000. Finally, Quantbot Technologies LP acquired a new position in New Gold during the second quarter worth about $33,000. Hedge funds and other institutional investors own 31.78% of the company’s stock.
New Gold Company Profile
New Gold Inc, an intermediate gold mining company, engages in the exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interests in the Rainy River mine located in Ontario, Canada; New Afton mine situated in British Columbia, Canada; and the Cerro San Pedro mine in San Luis Potosí, Mexico.
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