New Gold (TSE:NGD) Reaches New 52-Week High - What's Next?

Key Points

• New Gold Inc. shares reached a new 52-week high of C$10.05, closing at C$9.80 with significant trading volume of 1,449,469 shares.
• Analysts have given New Gold an average rating of "Buy", with National Bankshares raising its price target from C$8.00 to C$9.50.
• New Gold operates two producing mines in Canada and derives revenue from gold, copper, and silver sales, holding a market cap of C$7.63 billion.

New Gold Inc. (TSE:NGD - Get Free Report) ARCA: NGD shares reached a new 52-week high on Monday . The stock traded as high as C$10.05 and last traded at C$9.80, with a volume of 1449469 shares traded. The stock had previously closed at C$9.51.

Wall Street Analyst Weigh In

NGD has been the subject of a number of recent analyst reports. Raymond James Financial upgraded shares of New Gold to a "hold" rating in a research report on Monday, June 30th. National Bankshares upped their price objective on shares of New Gold from C$8.00 to C$9.50 and gave the stock an "outperform" rating in a research note on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of C$7.48.

New Gold Trading Up 1.4%

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$7.63 billion, a P/E ratio of 48.20, a price-to-earnings-growth ratio of -3.02 and a beta of 1.21. The business's fifty day simple moving average is C$7.65 and its 200 day simple moving average is C$6.36.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.