NEW GOLD (NGD): Price Target and June Short Interest Disclosure

NEW GOLD (NGD) : Average target price received by NEW GOLD (NGD) is $4.89 with an expected standard deviation of $1.07. The most aggressive target on the stock is $7, whereas the most downbeat target is $4. 7 financial analysts are currently covering the stock.

NEW GOLD (NGD) stated loss of 1,171,408 shares or 13.2% in the short interest. The short interest registered from 8,840,990 on June 15,2016 to 7,669,582 on June 30,2016. In terms of floated shares, the shorted positions stood at 1.5%. The stock has been averaging 6,946,466 shares daily in trading and would need 1 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Equity analysts at the Brokerage firm Barclays upgrades its rating on NEW GOLD (NYSEMKT:NGD). The rating major has initiated the coverage with overweight rating on the shares. Earlier, the shares were rated a Equal-weight by the brokerage firm. The Analysts at Barclays raises the price target from $3 per share to $5 per share. The rating by the firm was issued on April 18, 2016.


NEW GOLD (NYSEMKT:NGD): On Thursdays trading session , Opening price of the stock was $4.71 with an intraday high of $4.88. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $4.71. However, the stock managed to close at $4.82, a loss of 0.41% for the day. On the previous day, the stock had closed at $4.84. The total traded volume of the day was 3,404,975 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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