New Gold Inc. (NYSE:NGD – Get Free Report) was the target of unusually large options trading on Friday. Stock traders bought 4,367 call options on the stock. This is an increase of approximately 141% compared to the average daily volume of 1,814 call options.
New Gold Stock Up 2.4 %
NYSE:NGD traded up $0.07 on Friday, hitting $2.96. The stock had a trading volume of 9,918,145 shares, compared to its average volume of 7,710,068. New Gold has a 52 week low of $0.86 and a 52 week high of $3.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.50. The company’s fifty day moving average price is $2.36. The company has a market cap of $2.34 billion, a P/E ratio of -29.60 and a beta of 1.29.
New Gold (NYSE:NGD – Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. New Gold had a positive return on equity of 5.22% and a negative net margin of 2.53%. The company had revenue of $218.20 million for the quarter. Equities analysts predict that New Gold will post 0.14 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Wall Street Analysts Forecast Growth
NGD has been the subject of several recent analyst reports. Royal Bank of Canada raised their target price on New Gold from $3.00 to $3.50 and gave the stock an “outperform” rating in a research note on Tuesday. Cibc World Mkts raised New Gold to a “strong-buy” rating in a research note on Wednesday, July 10th. Scotiabank raised their target price on New Gold from $2.50 to $2.75 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. CIBC raised their target price on New Gold from $3.00 to $3.40 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Finally, TD Securities upgraded New Gold from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $2.66.
Get Our Latest Report on New Gold
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.
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