New Gold Inc (Pre-Merger) (NYSEAMERICAN:NGD) traded up 3.6% during trading on Tuesday . The stock traded as high as $1.11 and last traded at $1.06. 99,540 shares traded hands during trading, a decline of 98% from the average session volume of 4,898,129 shares. The stock had previously closed at $1.10.

A number of research analysts recently issued reports on the stock. TD Securities cut shares of New Gold Inc (Pre-Merger) from a “buy” rating to a “hold” rating and decreased their price objective for the company from $4.50 to $2.50 in a report on Wednesday, June 20th. Zacks Investment Research cut shares of New Gold Inc (Pre-Merger) from a “hold” rating to a “strong sell” rating in a report on Thursday, June 28th. Canaccord Genuity cut shares of New Gold Inc (Pre-Merger) from a “buy” rating to a “sell” rating in a report on Thursday, July 26th. Credit Suisse Group cut shares of New Gold Inc (Pre-Merger) from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $2.20 to $1.60 in a report on Thursday, July 26th. Finally, Raymond James decreased their price objective on shares of New Gold Inc (Pre-Merger) from $3.00 to $2.00 and set a “market perform” rating for the company in a report on Friday, July 27th. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $2.42.

The company has a debt-to-equity ratio of 0.42, a current ratio of 2.28 and a quick ratio of 1.38.

Institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC lifted its holdings in shares of New Gold Inc (Pre-Merger) by 26.6% in the first quarter. Commonwealth Equity Services LLC now owns 103,765 shares of the basic materials company’s stock worth $267,000 after acquiring an additional 21,800 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its holdings in shares of New Gold Inc (Pre-Merger) by 19.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 187,898 shares of the basic materials company’s stock worth $485,000 after acquiring an additional 31,034 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of New Gold Inc (Pre-Merger) by 114.0% in the first quarter. Neuberger Berman Group LLC now owns 61,775 shares of the basic materials company’s stock worth $159,000 after acquiring an additional 32,913 shares during the last quarter. Brave Asset Management Inc. lifted its holdings in shares of New Gold Inc (Pre-Merger) by 270.6% in the second quarter. Brave Asset Management Inc. now owns 63,000 shares of the basic materials company’s stock worth $131,000 after acquiring an additional 46,000 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of New Gold Inc (Pre-Merger) by 31.4% in the first quarter. Jane Street Group LLC now owns 227,329 shares of the basic materials company’s stock worth $587,000 after acquiring an additional 54,374 shares during the last quarter. Hedge funds and other institutional investors own 51.53% of the company’s stock.

New Gold Inc (Pre-Merger) Company Profile (NYSEAMERICAN:NGD)

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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