New Gold Inc. (TSE:NGD - Get Free Report) ARCA: NGD has earned a consensus rating of "Buy" from the nine brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$4.34.
Several research analysts have recently weighed in on NGD shares. National Bank Financial upgraded shares of New Gold to a "strong-buy" rating in a research note on Friday, March 21st. Bank of America upgraded shares of New Gold from an "underperform" rating to a "buy" rating and lifted their price target for the stock from C$3.65 to C$5.45 in a research note on Wednesday, March 26th.
Get Our Latest Analysis on NGD
New Gold Stock Performance
NGD stock traded down C$0.12 on Wednesday, hitting C$5.26. The company had a trading volume of 2,051,740 shares, compared to its average volume of 1,906,672. The stock's 50-day simple moving average is C$4.97 and its 200 day simple moving average is C$4.30. The stock has a market cap of C$2.89 billion, a price-to-earnings ratio of 143.94, a P/E/G ratio of -3.02 and a beta of 1.59. New Gold has a 12-month low of C$2.56 and a 12-month high of C$5.83. The company has a current ratio of 1.42, a quick ratio of 1.64 and a debt-to-equity ratio of 45.12.
Insider Activity at New Gold
In related news, Senior Officer Ankit Shah sold 42,699 shares of New Gold stock in a transaction on Friday, May 9th. The shares were sold at an average price of C$5.67, for a total transaction of C$242,103.33. Also, Senior Officer Sean William Keating sold 49,048 shares of New Gold stock in a transaction on Monday, May 5th. The shares were sold at an average price of C$5.40, for a total transaction of C$264,859.20. In the last quarter, insiders have sold 133,610 shares of company stock worth $686,555. 4.92% of the stock is owned by corporate insiders.
About New Gold
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Get Free ReportNew Gold Inc is an intermediate gold mining company. The company has a portfolio of two producing assets: Rainy River Mine and New Afton Mine in Canada. Also, it has interests in the Cerro San Pedro Mine in Mexico. The company derives revenue from the sale of Gold, Copper, and Silver.
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