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Shares of New Gold (NYSE:NGD) were the target of a large increase in short interest during the month of June. As of June 13th, there was short interest totalling 5,430,833 shares, an increase of 20.8% from the May 30th total of 4,495,858 shares, StockRatingsNetwork.com reports. Approximately 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,481,196 shares, the days-to-cover ratio is currently 2.2 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 analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $6.74.

Shares of New Gold (NYSE:NGD) traded down 3.81% on Tuesday, hitting $6.31. 4,717,154 shares of the company’s stock traded hands. New Gold has a 1-year low of $4.68 and a 1-year high of $8.10. The stock’s 50-day moving average is $5.45 and its 200-day moving average is $5.46. The company’s market cap is $3.178 billion.

New Gold (NYSE:NGD) last released its earnings data on Wednesday, April 30th. The company reported $0.04 earnings per share for the quarter, beating the analysts’ 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. On average, analysts predict that New Gold will post $0.14 earnings per share 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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