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New Gold (NYSE:NGD) saw a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 7,034,456 shares, a drop of 10.6% from the July 31st total of 7,867,231 shares, AnalystRatingsNetwork reports. Based on an average daily trading volume, of 2,318,311 shares, the days-to-cover ratio is currently 3.0 days. Currently, 1.4% of the shares of the company are sold short.

Shares of New Gold (NYSE:NGD) opened at 6.41 on Wednesday. New Gold has a 1-year low of $4.68 and a 1-year high of $7.56. The stock’s 50-day moving average is $6.26 and its 200-day moving average is $5.77. The company’s market cap is $3.230 billion.

New Gold (NYSE:NGD) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The company had revenue of $178.10 million for the quarter, compared to the consensus estimate of $195.42 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Analysts expect that New Gold will post $0.12 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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