New Gold (TSE:NGD) Sets New 1-Year High - What's Next?

Key Points

• New Gold Inc. shares reached a new 52-week high of C$9.38, reflecting strong market performance with recent trading volume of 934,215 shares.
• Brokerage firms have shown increased confidence, with National Bankshares raising their price target from C$8.00 to C$9.50 and designating it as "outperform."
• The company has a market cap of C$7.33 billion and operates two producing mines in Canada, generating revenue from gold, copper, and silver sales.

New Gold Inc. (TSE:NGD - Get Free Report) ARCA: NGD shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$9.38 and last traded at C$9.27, with a volume of 934215 shares trading hands. The stock had previously closed at C$9.03.

Analyst Ratings Changes

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

New Gold Price Performance

The company has a fifty day moving average of C$7.11 and a 200-day moving average of C$6.04. The firm has a market cap of C$7.33 billion, a P/E ratio of 46.30, a P/E/G ratio of -3.02 and a beta of 1.21. The company has a debt-to-equity ratio of 45.12, a current ratio of 1.42 and a quick ratio of 1.64.

New Gold Company Profile

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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