From MarketBeat:

Stock analysts downgraded New Gold stock from “buy” to “hold.” Several brokerages have recently issued reports on NGD shares, with a consensus price target of $1.59. NGD stock fell 4.2% to $1.38 on Monday, with a market cap of $947.48 million. The company posted $0.03 earnings per share, with analysts expecting EPS of 0.11 for the year. Institutional investors own 31.78% of NGD stock.

New Gold mines gold, silver, and copper in Canada and Mexico. However, the stock was downgraded by analysts, with a consensus “hold” rating and a price target of $1.59. NGD stock last traded at $1.38 on Monday, down 4.2% from its average trading price. The company reported earnings of $0.03 per share last quarter, meeting analyst expectations.

Institutional investors, including American Century Companies Inc. and Deutsche Bank AG, own 31.78% of NGD stock. Several other hedge funds have grown their stakes in the company in the past quarter.

These facts and figures are important to potential investors looking into NGD stock. They show market volatility, analyst sentiments and institutional investor activity around NGD stock.

Before you consider New Gold, you’ll want to hear this. Market realists have identified five top-ranked stocks that analysts believe are better buys than NGD. With a consensus “hold” rating and a price target of $1.59, NGD stock has seen increased institutional investor activity.

The news was generated by narrative science technology and reviewed by MarketBeat’s editorial team for accuracy. Please send any questions or comments about this story to [email protected].



Read more: New Gold (NYSEAMERICAN:NGD) Downgraded by StockNews.com