New Gold (NYSE:NGD) Issues Earnings Results

New Gold (NYSE:NGD) released its quarterly earnings data on Tuesday. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01, Zacks reports. New Gold had a positive return on equity of 4.85% and a negative net margin of 9.81%. The firm had revenue of $192.10 million during the quarter.

New Gold Trading Down 0.5 %

NGD stock traded down $0.01 during trading on Friday, reaching $1.81. The stock had a trading volume of 3,589,590 shares, compared to its average volume of 6,450,426. New Gold has a one year low of $0.86 and a one year high of $1.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.98 and a current ratio of 1.51. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -18.40, a PEG ratio of 0.59 and a beta of 1.53.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NGD. StockNews.com upgraded shares of New Gold from a “hold” rating to a “buy” rating in a research note on Wednesday. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of New Gold in a research report on Monday, April 8th. Finally, Scotiabank raised their price target on shares of New Gold from $1.65 to $2.00 and gave the company a “sector perform” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, New Gold currently has an average rating of “Hold” and an average price target of $1.64.

Hedge Funds Weigh In On New Gold

A number of hedge funds and other institutional investors have recently modified their holdings of NGD. Moloney Securities Asset Management LLC purchased a new stake in shares of New Gold during the first quarter valued at approximately $42,000. HC Advisors LLC raised its stake in shares of New Gold by 13.4% during the 4th quarter. HC Advisors LLC now owns 214,559 shares of the company’s stock worth $313,000 after purchasing an additional 25,300 shares during the period. American Century Companies Inc. grew its position in New Gold by 1.0% during the third quarter. American Century Companies Inc. now owns 5,095,417 shares of the company’s stock valued at $4,669,000 after buying an additional 48,886 shares during the period. Ingalls & Snyder LLC increased its holdings in New Gold by 116.6% during the fourth quarter. Ingalls & Snyder LLC now owns 123,842 shares of the company’s stock worth $181,000 after buying an additional 66,667 shares during the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new position in New Gold in the third quarter valued at about $61,000. Hedge funds and other institutional investors own 42.82% of the company’s stock.

New Gold Company Profile

New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.