New Gold (NGD) PT Raised to $1.15 at TD Securities

New Gold (NYSEAMERICAN:NGD) had its target price lifted by equities research analysts at TD Securities from $1.05 to $1.15 in a report released on Thursday. The firm currently has a “hold” rating on the basic materials company’s stock. TD Securities’ price target suggests a potential upside of 5.50% from the stock’s previous close.

Several other research analysts have also issued reports on NGD. Zacks Investment Research lowered New Gold from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 20th. Royal Bank of Canada lowered their target price on New Gold from $1.25 to $1.00 and set an “underperform” rating for the company in a research report on Wednesday, September 26th. Raymond James set a $1.25 target price on New Gold and gave the stock a “market perform” rating in a research report on Friday, October 26th. BMO Capital Markets reaffirmed a “hold” rating on shares of New Gold in a research report on Thursday, November 1st. Finally, National Bank Financial reaffirmed a “hold” rating on shares of New Gold in a research report on Monday, November 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. New Gold has an average rating of “Hold” and a consensus target price of $1.75.

NYSEAMERICAN NGD opened at $1.09 on Thursday. New Gold has a twelve month low of $0.69 and a twelve month high of $3.45.

New Gold (NYSEAMERICAN:NGD) last released its quarterly earnings data on Wednesday, October 24th. The basic materials company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The firm had revenue of $147.10 million for the quarter, compared to analyst estimates of $189.47 million.

A number of large investors have recently made changes to their positions in NGD. First Manhattan Co. raised its position in shares of New Gold by 1,245.5% in the 3rd quarter. First Manhattan Co. now owns 714,450 shares of the basic materials company’s stock worth $566,000 after acquiring an additional 661,350 shares in the last quarter. BlueMountain Capital Management LLC raised its position in shares of New Gold by 209.1% in the 3rd quarter. BlueMountain Capital Management LLC now owns 3,824,559 shares of the basic materials company’s stock worth $3,019,000 after acquiring an additional 2,587,141 shares in the last quarter. Exor Investments UK LLP raised its position in shares of New Gold by 43.0% in the 3rd quarter. Exor Investments UK LLP now owns 16,717,997 shares of the basic materials company’s stock worth $13,262,000 after acquiring an additional 5,028,121 shares in the last quarter. Global X Management Co LLC raised its position in shares of New Gold by 38.8% in the 2nd quarter. Global X Management Co LLC now owns 721,946 shares of the basic materials company’s stock worth $1,504,000 after acquiring an additional 201,824 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of New Gold by 135.5% in the 2nd quarter. OppenheimerFunds Inc. now owns 2,590,000 shares of the basic materials company’s stock worth $5,387,000 after acquiring an additional 1,490,000 shares in the last quarter. 51.53% of the stock is owned by institutional investors and hedge funds.

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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