New Gold (NGD) Stock Rating Upgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of New Gold (NYSEAMERICAN:NGD) from an underweight rating to a neutral rating in a research note published on Tuesday morning, Marketbeat.com reports.

Other analysts have also recently issued research reports about the company. Zacks Investment Research cut New Gold from a hold rating to a strong sell rating in a research report on Thursday, September 20th. National Bank Financial reissued a hold rating on shares of New Gold in a report on Monday, November 12th. CIBC restated a hold rating on shares of New Gold in a report on Sunday, December 16th. BMO Capital Markets restated a hold rating on shares of New Gold in a report on Thursday, November 1st. Finally, Raymond James set a $1.25 price objective on shares of New Gold and gave the stock a market perform rating in a report on Friday, October 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $1.75.

NYSEAMERICAN:NGD opened at $1.09 on Tuesday. New Gold has a twelve month low of $0.69 and a twelve month high of $3.45.



New Gold (NYSEAMERICAN:NGD) last posted its quarterly earnings data on Wednesday, October 24th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $147.10 million during the quarter, compared to the consensus estimate of $189.47 million.

Several hedge funds have recently made changes to their positions in NGD. Kopernik Global Investors LLC increased its holdings in shares of New Gold by 32.4% in the third quarter. Kopernik Global Investors LLC now owns 35,499,116 shares of the basic materials company’s stock valued at $28,161,000 after purchasing an additional 8,693,991 shares during the last quarter. Exor Investments UK LLP lifted its stake in New Gold by 43.0% in the 3rd quarter. Exor Investments UK LLP now owns 16,717,997 shares of the basic materials company’s stock valued at $13,262,000 after buying an additional 5,028,121 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in New Gold by 65.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 14,972,656 shares of the basic materials company’s stock valued at $11,846,000 after acquiring an additional 5,931,628 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of New Gold by 3.3% during the 3rd quarter. Vanguard Group Inc now owns 13,817,177 shares of the basic materials company’s stock worth $10,961,000 after buying an additional 446,047 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in New Gold by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 13,817,177 shares of the basic materials company’s stock valued at $10,961,000 after purchasing an additional 446,047 shares in the last quarter. 51.53% of the stock is currently owned by institutional investors and hedge funds.

New Gold Company Profile

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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