New Gold Inc. (NGD) Shares Gap Up to $0.00

New Gold Inc. (NYSE:NGD) (TSE:NGD)’s share price gapped up prior to trading on Thursday . The stock had previously closed at ($3.37), but opened at $0.00. New Gold shares last traded at $0.00, with a volume of 4811526 shares trading hands.

NGD has been the topic of several research reports. Royal Bank Of Canada upped their target price on New Gold from $3.75 to $4.25 and gave the company a “sector perform” rating in a research report on Monday, October 23rd. National Bank Financial raised New Gold from a “sector perform” rating to an “outperform” rating in a research report on Monday, July 24th. Zacks Investment Research downgraded New Gold from a “buy” rating to a “sell” rating in a research report on Tuesday, October 3rd. Canaccord Genuity raised New Gold from a “hold” rating to a “buy” rating in a research report on Friday, October 20th. Finally, Credit Suisse Group upped their target price on New Gold from $3.00 to $3.30 and gave the company a “neutral” rating in a research report on Friday, September 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $4.12.

New Gold (NYSE:NGD) (TSE:NGD) last issued its quarterly earnings results on Wednesday, October 25th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.01. The business had revenue of $142.50 million for the quarter, compared to the consensus estimate of $176.12 million. New Gold had a return on equity of 5.05% and a net margin of 20.49%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 earnings per share.

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in New Gold by 16.8% during the second quarter. JPMorgan Chase & Co. now owns 10,106,080 shares of the company’s stock worth $32,137,000 after buying an additional 1,455,774 shares in the last quarter. Shell Asset Management Co. grew its position in New Gold by 1,603.8% during the third quarter. Shell Asset Management Co. now owns 920,026 shares of the company’s stock worth $5,217,000 after buying an additional 866,026 shares in the last quarter. Evergreen Capital Management LLC grew its position in New Gold by 20.6% during the second quarter. Evergreen Capital Management LLC now owns 730,775 shares of the company’s stock worth $2,324,000 after buying an additional 125,075 shares in the last quarter. BlueMountain Capital Management LLC grew its position in New Gold by 2.7% during the second quarter. BlueMountain Capital Management LLC now owns 2,718,069 shares of the company’s stock worth $8,643,000 after buying an additional 72,307 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in New Gold by 13.3% during the second quarter. CIBC Asset Management Inc now owns 3,506,178 shares of the company’s stock worth $11,126,000 after buying an additional 410,754 shares in the last quarter.

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About New Gold

New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.

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