Stock of The Day: Time to Buy New Gold Inc. (USA) After Today’s Huge Increase?

Stock of The Day: Time to Buy New Gold Inc. (USA) After Today's Huge Increase?

The stock of New Gold Inc. (USA) (NYSEMKT:NGD) is a huge mover today! About 747,202 shares traded hands. New Gold Inc. (USA) (NYSEMKT:NGD) has declined 18.41% since April 25, 2016 and is downtrending. It has underperformed by 24.42% the S&P500.
The move comes after 8 months positive chart setup for the $1.85 billion company. It was reported on Nov, 28 by Barchart.com. We have $3.84 PT which if reached, will make NYSEMKT:NGD worth $74.00 million more.

Analysts await New Gold Inc. (USA) (NYSEMKT:NGD) to report earnings on February, 15. They expect $0.02 EPS, up 100.00% or $0.01 from last year’s $0.01 per share. NGD’s profit will be $10.05M for 46.00 P/E if the $0.02 EPS becomes a reality. After $0.03 actual EPS reported by New Gold Inc. (USA) for the previous quarter, Wall Street now forecasts -33.33% negative EPS growth.

New Gold Inc. (USA) (NYSEMKT:NGD) Ratings Coverage

Out of 3 analysts covering New Gold Inc. (NYSEMKT:NGD), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. New Gold Inc. has been the topic of 12 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by Desjardins Securities given on Thursday, September 8. The firm has “Buy” rating given on Friday, September 16 by Desjardins Securities. The rating was initiated by IBC on Friday, October 9 with “Sector Performer”. On Monday, August 31 the stock rating was upgraded by Mackie to “Hold”. On Friday, August 28 the stock rating was upgraded by Mackie to “Hold”.

According to Zacks Investment Research, “New Gold Inc. is focused on the exploration and development of the Afton Copper-Gold Project, located 6 miles (10 km) west of Kamloops, British Columbia.”

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