Company Shares of NEW GOLD Drops by -1.44%

NEW GOLD (NYSEMKT:NGD) has tumbled 1.44% during the past week and has dropped 2.38% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 0.26%. NEW GOLD (NYSEMKT:NGD) has underperformed the index by 3.27% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

NEW GOLD (NYSEMKT:NGD): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $4.10 and $4.00 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $4.23. The buying momentum continued till the end and the stock did not give up its gains. It closed at $4.11, notching a gain of 2.75% for the day. The total traded volume was 22,670,825 . The stock had closed at $4.00 on the previous day.

The company shares have rallied 38.38% from its 1 Year high price. On May 16, 2016, the shares registered one year high at $4.85 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $4.22 and the 200 Day Moving Average price is recorded at $3.37.

Many analysts have stated their opinion on the company shares. Major Brokerage house, Barclays upgrades its ratings on NEW GOLD (NYSEMKT:NGD). In the latest research report, Barclays raises the target price from $3 per share to $5 per share. According to the latest information available, the shares are now rated Overweight by the analysts at the agency. Previously, the analysts had a Equal-weight rating on the shares. The rating by the firm was issued on April 18, 2016. Institutional Investors own 54.24% of NEW GOLD shares.

New Gold Inc. is a Canada-based intermediate gold mining company engaged in the development and operation of mineral properties. The Companys assets include New Afton Mine in Canada, which is an underground gold?copper deposit; the Mesquite Mine in the United States, which is an open pit mine; the Peak Mines in Australia, which is an underground gold?copper deposit, and the Cerro San Pedro Mine in Mexico, which is a gold?silver, open pit mine. The Company projects include the Rainy River and Blackwater projects, both in Canada, and a 30% interest in the El Morro copper?gold project in Chile. Approximately 28% of the Companys gold revenue is generated from Canada, 28% from the United States, 26% from Australia and 18% from Mexico, and over 70% of its gold reserves are located in Canada.

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