New Gold Inc. (TSE:NGD - Get Free Report) ARCA: NGD shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$5.67 and traded as high as C$6.75. New Gold shares last traded at C$6.61, with a volume of 1,749,146 shares trading hands.
Analysts Set New Price Targets
Several research analysts have commented on NGD shares. Bank of America upgraded shares of New Gold from an "underperform" rating to a "buy" rating and boosted their price objective for the company from C$3.65 to C$5.45 in a research report on Wednesday, March 26th. National Bank Financial upgraded shares of New Gold to a "strong-buy" rating in a research report on Friday, March 21st. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, New Gold presently has an average rating of "Buy" and an average target price of C$4.68.
Get Our Latest Stock Report on NGD
New Gold Stock Up 1.4%
The firm's fifty day moving average price is C$5.74 and its 200-day moving average price is C$4.73. The company has a market capitalization of C$3.67 billion, a price-to-earnings ratio of 182.53, a P/E/G ratio of -3.02 and a beta of 1.59. The company has a debt-to-equity ratio of 45.12, a current ratio of 1.42 and a quick ratio of 1.64.
Insider Transactions at New Gold
In other news, Senior Officer Sean William Keating sold 49,048 shares of the company's 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. Also, Senior Officer Ankit Shah sold 42,699 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of C$5.67, for a total transaction of C$242,103.33. Over the last ninety days, insiders sold 116,747 shares of company stock worth $663,463. Corporate insiders own 4.92% of the company's stock.
About New Gold
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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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