New Gold Short Interest Up 3.1% in May (NGD)
New Gold (NYSE:NGD) was the recipient of a significant increase in short interest in the month of May. As of May 30th, there was short interest totalling 4,495,858 shares, an increase of 3.1% from the May 15th total of 4,358,796 shares, AmericanBankingNews.com reports. Currently, 0.9% of the company’s shares are sold short. Based on an average trading volume of 1,961,527 shares, the short-interest ratio is currently 2.3 days.
NGD has been the subject of a number of recent research reports. Analysts at Jennings Capital upgraded shares of New Gold from a “hold” rating to a “buy” rating in a research note on Friday, May 2nd. They now have a $7.00 price target on the stock. Analysts at Canaccord Genuity upgraded shares of New Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. New Gold has a consensus rating of “Hold” and an average price target of $6.74.
New Gold (NYSE:NGD) traded up 2.61% during mid-day trading on Tuesday, hitting $5.51. The stock had a trading volume of 1,474,148 shares. New Gold has a 52 week low of $4.68 and a 52 week high of $8.10. The stock’s 50-day moving average is $5.1 and its 200-day moving average is $5.38. The company’s market cap is $2.775 billion.
New Gold (NYSE:NGD) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.02 by $0.02. The company had revenue of $190.50 million for the quarter, compared to the consensus estimate of $200.16 million. Analysts expect that New Gold will post $0.14 EPS for the current fiscal year.
New Gold Inc (NYSE:NGD) is an intermediate gold producer with a portfolio of global assets in the United States, Mexico, Australia, Canada, Chile and Brazil.
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