New Gold Short Interest Up 18.1% in July (NGD)
Shares of New Gold (NYSE:NGD) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 7,895,685 shares, a growth of 18.1% from the June 30th total of 6,685,382 shares, American Banking News reports. Approximately 1.6% of the company’s stock are short sold. Based on an average daily volume of 3,963,265 shares, the short-interest ratio is currently 2.0 days.
Separately, 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $6.74.
New Gold (NYSE:NGD) traded down 0.96% during mid-day trading on Thursday, hitting $6.21. 1,917,439 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 has a 50-day moving average of $6.2 and a 200-day moving average of $5.66. The company’s market cap is $3.128 billion.
New Gold (NYSE:NGD) last issued its quarterly earnings data 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. On average, analysts predict that New Gold will post $0.13 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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