New Gold (NYSEAMERICAN:NGD) was downgraded by research analysts at National Bank Financial from an “outperform spec overweight” rating to a “sector perform spec overwgt” rating in a research report issued to clients and investors on Wednesday.
NGD has been the subject of several other reports. TD Securities dropped their target price on shares of New Gold from $5.00 to $4.50 and set a “buy” rating for the company in a report on Friday, April 27th. Credit Suisse Group upgraded shares of New Gold from an “underperform” rating to a “neutral” rating and set a $3.30 target price for the company in a report on Tuesday, May 8th. Scotiabank upgraded shares of New Gold from a “sector perform” rating to an “outperform” rating and set a $4.00 target price for the company in a report on Thursday, May 10th. Zacks Investment Research downgraded shares of New Gold from a “hold” rating to a “strong sell” rating in a report on Thursday, June 28th. Finally, Canaccord Genuity downgraded shares of New Gold from a “buy” rating to a “sell” rating in a report on Thursday, July 26th. Five investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $2.85.
New Gold stock traded down $0.02 during trading hours on Wednesday, reaching $1.12. 3,071,824 shares of the stock were exchanged, compared to its average volume of 5,039,303. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.38 and a current ratio of 2.28. New Gold has a 52-week low of $1.11 and a 52-week high of $4.25.
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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