TD Securities Trims New Gold (NYSEAMERICAN:NGD) Target Price to $0.95

New Gold (NYSEAMERICAN:NGD) had its price target reduced by analysts at TD Securities from $1.15 to $0.95 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the basic materials company’s stock. TD Securities’ target price indicates a potential upside of 23.54% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Raymond James set a $1.25 price objective on shares of New Gold and gave the company a “market perform” rating in a research note on Thursday, November 7th. Zacks Investment Research lowered shares of New Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 4th. Canaccord Genuity reaffirmed a “buy” rating and set a $1.50 price target on shares of New Gold in a research report on Friday. CIBC lowered shares of New Gold from a “neutral” rating to a “sector underperform” rating in a research report on Friday. Finally, Royal Bank of Canada reaffirmed a “sell” rating and set a $0.65 price target on shares of New Gold in a research report on Monday, January 27th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $1.11.

Shares of NGD traded up $0.01 on Friday, hitting $0.77. 2,035,543 shares of the stock traded hands, compared to its average volume of 2,584,623. The firm has a 50 day moving average price of $1.20. New Gold has a 1 year low of $0.61 and a 1 year high of $1.56.

New Gold (NYSEAMERICAN:NGD) last announced its quarterly earnings data on Thursday, February 13th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $139.20 million for the quarter.

Several institutional investors have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can increased its position in shares of New Gold by 37.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 46,067 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 12,512 shares in the last quarter. Brave Asset Management Inc. grew its holdings in New Gold by 20.9% during the 4th quarter. Brave Asset Management Inc. now owns 105,150 shares of the basic materials company’s stock valued at $93,000 after purchasing an additional 18,150 shares in the last quarter. Financial Counselors Inc. grew its holdings in New Gold by 33.8% during the 4th quarter. Financial Counselors Inc. now owns 79,100 shares of the basic materials company’s stock valued at $70,000 after purchasing an additional 20,000 shares in the last quarter. Sprott Inc. grew its holdings in New Gold by 11.2% during the 4th quarter. Sprott Inc. now owns 221,605 shares of the basic materials company’s stock valued at $199,000 after purchasing an additional 22,367 shares in the last quarter. Finally, CIBC World Markets Inc. grew its holdings in New Gold by 9.8% during the 4th quarter. CIBC World Markets Inc. now owns 302,023 shares of the basic materials company’s stock valued at $266,000 after purchasing an additional 27,004 shares in the last quarter. 51.53% of the stock is owned by institutional investors.

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 Rainy River project located in Ontario, Canada; the New Afton project located near Kamloops, British Columbia, Canada; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

Recommended Story: What is included in the gross domestic product?

Analyst Recommendations for New Gold (NYSEAMERICAN:NGD)

Receive News & Ratings for New Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Gold and related companies with MarketBeat.com's FREE daily email newsletter.