Short Interest in New Gold Inc. (NGD) Expands By 5.2%
New Gold Inc. (NYSE:NGD) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 9,305,264 shares, an increase of 5.2% from the October 31st total of 8,848,098 shares. Based on an average daily volume of 7,580,148 shares, the short-interest ratio is currently 1.2 days. Currently, 1.8% of the shares of the stock are sold short.
New Gold (NYSE:NGD) traded down 2.45% during mid-day trading on Friday, reaching $3.59. 2,353,897 shares of the company traded hands. New Gold has a one year low of $1.76 and a one year high of $6.04. The stock’s 50-day moving average price is $3.96 and its 200-day moving average price is $4.49. The firm has a market cap of $1.84 billion and a PE ratio of 179.50.
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About New Gold
New Gold Inc is a Canada-based intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. The Company has operating mines in Canada, the United States, Australia and Mexico and development projects in Canada. The Company’s segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other.
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