New Gold’s (NGD) Hold Rating Reiterated at Canaccord Genuity

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Canaccord Genuity reissued their hold rating on shares of New Gold (NYSEAMERICAN:NGD) in a research note published on Friday morning, TipRanks reports.

NGD has been the topic of a number of other research reports. Zacks Investment Research raised shares of DLH from a sell rating to a hold rating in a report on Tuesday, July 9th. Credit Suisse Group started coverage on shares of New Gold in a report on Tuesday, April 16th. They set a neutral rating and a $1.00 price objective on the stock. CIBC reissued a hold rating on shares of Sandstorm Gold in a report on Monday, July 15th. JPMorgan Chase & Co. raised shares of China Life Insurance from a neutral rating to an overweight rating in a report on Thursday, May 30th. They noted that the move was a valuation call. Finally, Raymond James set a $33.00 price objective on shares of LKQ and gave the stock a buy rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $1.00.

Shares of NGD stock traded down $0.11 during mid-day trading on Friday, reaching $1.36. The company’s stock had a trading volume of 4,915,216 shares, compared to its average volume of 3,945,679. New Gold has a 1-year low of $0.61 and a 1-year high of $1.84.

A number of hedge funds have recently made changes to their positions in the business. Financial Counselors Inc. bought a new position in shares of New Gold during the 1st quarter worth approximately $51,000. SG Americas Securities LLC grew its stake in shares of New Gold by 217.9% in the first quarter. SG Americas Securities LLC now owns 80,771 shares of the basic materials company’s stock valued at $70,000 after buying an additional 55,363 shares in the last quarter. Moors & Cabot Inc. grew its stake in shares of New Gold by 145.2% in the first quarter. Moors & Cabot Inc. now owns 94,400 shares of the basic materials company’s stock valued at $80,000 after buying an additional 55,900 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of New Gold by 163.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 191,714 shares of the basic materials company’s stock valued at $148,000 after buying an additional 118,963 shares in the last quarter. Finally, Norges Bank bought a new position in shares of New Gold in the fourth quarter valued at $312,000. Hedge funds and other institutional investors own 51.53% of the company’s stock.

About New Gold

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 Rainy River project located in Ontario, Canada; the New Afton project located near Kamloops, British Columbia, Canada; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

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Analyst Recommendations for New Gold (NYSEAMERICAN:NGD)

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