NEW GOLD (NGD) has risen sharply, recording gains of 29.61% in the past 4 weeks. However, the stock has corrected -0.18% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 29.12% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
New Gold, Inc. is up 35.15% in the last 3-month period. Year-to-Date the stock performance stands at 145.26%. The stock has recorded a 20-day Moving Average of 6.1% and the 50-Day Moving Average is 18.47%.
NEW GOLD (NYSEMKT:NGD): The stock opened at $5.63 on Friday but the bulls could not build on the opening and the stock topped out at $5.79 for the day. The stock traded down to $5.56 during the day, due to lack of any buying support eventually closed down at $5.69 with a loss of -1.39% for the day. The stock had closed at $5.77 on the previous day. The total traded volume was 5,358,280 shares.
Also, 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.
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.