New Gold (TSE:NGD) Hits New 12-Month High - Here's What Happened

Key Points

• New Gold Inc. shares reached a new 52-week high at C$9.06, closing at C$9.04 with a trading volume of 972,447 shares.
• Raymond James Financial upgraded New Gold to a "hold" rating, while the stock currently has a consensus target price of C$5.45 and an average rating of "Buy" from analysts.
• The company has a market cap of C$7.13 billion and operates two producing assets in Canada, with revenue derived from gold, copper, and silver sales.

New Gold Inc. (TSE:NGD - Get Free Report) ARCA: NGD's share price reached a new 52-week high on Monday . The company traded as high as C$9.06 and last traded at C$9.04, with a volume of 972447 shares changing hands. The stock had previously closed at C$8.74.

Analyst Ratings Changes

Separately, Raymond James Financial upgraded shares of New Gold to a "hold" rating in a research note on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of C$5.45.

New Gold Price Performance

The business's 50-day simple moving average is C$6.84 and its 200-day simple moving average is C$5.83. The stock has a market cap of C$7.13 billion, a PE ratio of 45.00, a PEG ratio of -3.02 and a beta of 1.21. The company has a quick ratio of 1.64, a current ratio of 1.42 and a debt-to-equity ratio of 45.12.

About New Gold

New 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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