New Gold (NGD) Given a $1.25 Price Target at Raymond James

New Gold (NYSEAMERICAN:NGD) received a $1.25 target price from equities research analysts at Raymond James in a research note issued on Friday. The brokerage presently has a “market perform” rating on the basic materials company’s stock. Raymond James’ target price would indicate a potential upside of 54.32% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of New Gold from a “strong sell” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada downgraded shares of New Gold from a “sector perform” rating to an “underperform” rating and reduced their price objective for the company from $3.50 to $1.40 in a research report on Wednesday, August 15th. TD Securities reduced their price objective on shares of New Gold from $1.75 to $1.50 and set a “hold” rating for the company in a research report on Thursday, August 9th. Scotiabank downgraded shares of New Gold from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, August 8th. Finally, Canaccord Genuity upgraded shares of New Gold from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. New Gold currently has a consensus rating of “Hold” and a consensus target price of $1.87.

Shares of New Gold stock traded up $0.03 during trading hours on Friday, reaching $0.81. 204,594 shares of the company were exchanged, compared to its average volume of 4,765,926. New Gold has a 1 year low of $0.69 and a 1 year high of $3.57. The company has a quick ratio of 1.38, a current ratio of 2.28 and a debt-to-equity ratio of 0.42.



New Gold (NYSEAMERICAN:NGD) last issued its quarterly earnings data on Wednesday, October 24th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.02. The company had revenue of $147.10 million for the quarter, compared to analyst estimates of $189.47 million. New Gold had a negative return on equity of 32.21% and a negative net margin of 92.82%. On average, analysts predict that New Gold will post 0.05 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in NGD. Brave Asset Management Inc. grew its stake in New Gold by 270.6% in the 2nd quarter. Brave Asset Management Inc. now owns 63,000 shares of the basic materials company’s stock worth $131,000 after acquiring an additional 46,000 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of New Gold by 26.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 103,765 shares of the basic materials company’s stock valued at $267,000 after acquiring an additional 21,800 shares in the last quarter. First Manhattan Co. lifted its holdings in shares of New Gold by 1,245.5% during the 3rd quarter. First Manhattan Co. now owns 714,450 shares of the basic materials company’s stock valued at $566,000 after acquiring an additional 661,350 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of New Gold by 31.4% during the 1st quarter. Jane Street Group LLC now owns 227,329 shares of the basic materials company’s stock valued at $587,000 after acquiring an additional 54,374 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of New Gold during the 2nd quarter valued at $802,000. 51.53% of the stock is owned by hedge funds and other institutional investors.

About New Gold

New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the New Afton project located near Kamloops, British Columbia, Canada; the Mesquite mine located in Imperial County, California, the United States; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

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Analyst Recommendations for New Gold (NYSEAMERICAN:NGD)

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