New Gold Inc. (NGD) Given Average Recommendation of “Hold” by Analysts

New Gold Inc. (NYSE:NGD) has been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $3.90.

A number of research firms have recently weighed in on NGD. Royal Bank of Canada reaffirmed a “hold” rating on shares of New Gold in a research note on Thursday, February 2nd. Scotiabank raised New Gold from an “underperform” rating to a “sector perform” rating in a research note on Thursday, February 16th. Zacks Investment Research raised New Gold from a “sell” rating to a “hold” rating in a research note on Friday, February 17th. Credit Suisse Group AG downgraded New Gold from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 31st. Finally, GMP Securities downgraded New Gold from a “buy” rating to a “hold” rating and set a $4.80 price target for the company. in a research note on Tuesday, January 31st. They noted that the move was a valuation call.

New Gold (NYSE:NGD) opened at 2.89 on Tuesday. New Gold has a 12 month low of $2.39 and a 12 month high of $6.04. The firm has a market capitalization of $1.48 billion and a price-to-earnings ratio of 578.00. The firm has a 50 day moving average price of $2.93 and a 200-day moving average price of $3.76.

Large investors have recently bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in New Gold during the fourth quarter worth approximately $156,000. AQR Capital Management LLC boosted its stake in New Gold by 35.7% in the fourth quarter. AQR Capital Management LLC now owns 47,752 shares of the company’s stock worth $168,000 after buying an additional 12,572 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in New Gold by 13.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 48,063 shares of the company’s stock worth $169,000 after buying an additional 5,600 shares during the last quarter. Scotia Capital Inc. boosted its stake in New Gold by 30.8% in the fourth quarter. Scotia Capital Inc. now owns 49,626 shares of the company’s stock worth $174,000 after buying an additional 11,690 shares during the last quarter. Finally, Comerica Bank boosted its stake in New Gold by 8.5% in the fourth quarter. Comerica Bank now owns 59,815 shares of the company’s stock worth $243,000 after buying an additional 4,707 shares during the last quarter.

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About New Gold

New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.

5 Day Chart for NYSE:NGD

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