New Gold Inc. (TSE:NGD - Get Free Report) ARCA: NGD shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$5.97 and last traded at C$5.82, with a volume of 620674 shares trading hands. The stock had previously closed at C$5.71.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. Bank of America upgraded shares of New Gold from an "underperform" rating to a "buy" rating and boosted their target price for the company from C$3.65 to C$5.45 in a research note on Wednesday, March 26th. National Bank Financial raised New Gold to a "strong-buy" rating in a report on Friday, March 21st. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of C$4.34.
Read Our Latest Stock Report on NGD
New Gold Price Performance
The stock has a 50-day moving average price of C$5.08 and a two-hundred day moving average price of C$4.37. The company has a current ratio of 1.42, a quick ratio of 1.64 and a debt-to-equity ratio of 45.12. The stock has a market cap of C$3.28 billion, a price-to-earnings ratio of 163.37, a PEG ratio of -3.02 and a beta of 1.59.
Insider Activity at New Gold
In other New Gold news, Senior Officer Sean William Keating sold 49,048 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of C$5.40, for a total value of C$264,859.20. Also, Senior Officer Keith Murphy sold 41,863 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of C$4.29, for a total value of C$179,592.27. Over the last quarter, insiders have sold 133,610 shares of company stock worth $686,555. 4.92% of the stock is owned by company insiders.
About New Gold
(
Get Free Report)
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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