New Gold Inc. (TSE:NGD - Get Free Report) ARCA: NGD shares were up 19.3% on Thursday . The company traded as high as C$5.49 and last traded at C$5.49. Approximately 5,448,480 shares traded hands during trading, an increase of 191% from the average daily volume of 1,871,202 shares. The stock had previously closed at C$4.60.
Analysts Set New Price Targets
A number of equities analysts recently commented on NGD shares. National Bank Financial raised shares of New Gold to a "strong-buy" rating in a research report on Friday, March 21st. Bank of America raised New Gold from an "underperform" rating to a "buy" rating and lifted their price objective for the company from C$3.65 to C$5.45 in a report on Wednesday, March 26th. One analyst has rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, New Gold has a consensus rating of "Buy" and a consensus target price of C$4.34.
View Our Latest Stock Analysis on New Gold
New Gold Stock Performance
The company has a debt-to-equity ratio of 45.12, a current ratio of 1.42 and a quick ratio of 1.64. The stock has a fifty day simple moving average of C$4.75 and a two-hundred day simple moving average of C$4.23. The firm has a market capitalization of C$3.06 billion, a P/E ratio of 152.43, a P/E/G ratio of -3.02 and a beta of 1.59.
Insiders Place Their Bets
In other news, Senior Officer Keith Murphy sold 41,863 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of C$4.29, for a total value of C$179,592.27. Also, 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. 4.92% of the stock is currently owned by insiders.
New Gold Company Profile
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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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