New Gold (NGD) Stock Rating Lowered by National Bank Financial

New Gold (NYSEAMERICAN:NGD) was downgraded by stock analysts at National Bank Financial from an “outperform spec overweight” rating to a “sector perform spec overwgt” rating in a research note issued on Wednesday.

NGD has been the topic of several other reports. TD Securities decreased their price target on shares of New Gold from $5.00 to $4.50 and set a “buy” rating on the stock in a research note on Friday, April 27th. Credit Suisse Group cut shares of New Gold from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $2.20 to $1.60 in a research note on Thursday, July 26th. Canaccord Genuity cut shares of New Gold from a “buy” rating to a “sell” rating in a research note on Thursday, July 26th. Zacks Investment Research cut shares of New Gold from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 28th. Finally, JPMorgan Chase & Co. cut shares of New Gold from a “neutral” rating to an “underweight” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $2.85.

New Gold opened at $1.12 on Wednesday, MarketBeat.com reports. New Gold has a 12-month low of $1.11 and a 12-month high of $4.25. The company has a current ratio of 2.28, a quick ratio of 1.38 and a debt-to-equity ratio of 0.42.

Several hedge funds have recently made changes to their positions in NGD. Brave Asset Management Inc. lifted its holdings in shares of New Gold by 270.6% during the 2nd quarter. Brave Asset Management Inc. now owns 63,000 shares of the basic materials company’s stock worth $131,000 after acquiring an additional 46,000 shares during the period. Neuberger Berman Group LLC lifted its holdings in shares of New Gold by 114.0% during the 1st quarter. Neuberger Berman Group LLC now owns 61,775 shares of the basic materials company’s stock worth $159,000 after acquiring an additional 32,913 shares during the period. Natixis purchased a new position in shares of New Gold during the 1st quarter worth about $189,000. Commonwealth Equity Services LLC lifted its holdings in shares of New Gold by 26.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 103,765 shares of the basic materials company’s stock worth $267,000 after acquiring an additional 21,800 shares during the period. Finally, Shufro Rose & Co. LLC purchased a new position in shares of New Gold during the 1st quarter worth about $271,000. Institutional investors and hedge funds own 51.53% of the company’s stock.

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 New Afton project located near Kamloops, British Columbia, Canada; the Mesquite mine located in Imperial County, California, the United States; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

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Analyst Recommendations for New Gold (NYSEAMERICAN:NGD)

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