Several other brokerages have also issued reports on NGD. National Bank Financial reaffirmed a sector perform rating and issued a $8.10 target price (up previously from $7.00) on shares of New Gold in a research note on Thursday, August 4th. Desjardins lowered New Gold from a buy rating to a hold rating in a research note on Wednesday, September 7th. Canaccord Genuity lowered New Gold from a buy rating to a hold rating in a research note on Wednesday, September 7th. Bank of America Corp. set a $5.60 target price on New Gold and gave the stock a hold rating in a research note on Sunday, September 11th. Finally, Zacks Investment Research raised New Gold from a hold rating to a buy rating and set a $5.50 target price for the company in a research note on Saturday, July 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $5.74.
Shares of New Gold (NYSEMKT:NGD) opened at 3.85 on Friday. The stock has a 50 day moving average of $4.74 and a 200 day moving average of $4.54. New Gold has a 1-year low of $1.76 and a 1-year high of $6.04. The company’s market cap is $1.97 billion.
New Gold (NYSEMKT:NGD) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.03 EPS for the quarter. The business had revenue of $180.30 million for the quarter, compared to analysts’ expectations of $163.44 million. During the same period in the previous year, the firm posted $0.02 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts predict that New Gold will post $0.08 EPS for the current year.
Hedge funds have recently made changes to their positions in the company. Lincluden Management Ltd. raised its stake in shares of New Gold by 4.7% in the second quarter. Lincluden Management Ltd. now owns 14,840 shares of the company’s stock worth $107,000 after buying an additional 665 shares during the last quarter. Numeric Investors LLC acquired a new stake in shares of New Gold during the second quarter worth approximately $108,000. Mackenzie Financial Corp acquired a new stake in shares of New Gold during the second quarter worth approximately $133,000. Advisor Group Inc. acquired a new stake in shares of New Gold during the second quarter worth approximately $135,000. Finally, Scotia Capital Inc. raised its stake in shares of New Gold by 48.1% in the second quarter. Scotia Capital Inc. now owns 31,716 shares of the company’s stock worth $138,000 after buying an additional 10,302 shares during the last quarter.
New Gold Company Profile
New Gold Inc is a Canada-based intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. The Company has operating mines in Canada, the United States, Australia and Mexico and development projects in Canada. The Company’s segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other.
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