New Gold (TSE:NGD) Trading 4.2% Higher - Still a Buy?

New Gold Inc. (TSE:NGD - Get Free Report) ARCA: NGD's share price rose 4.2% during mid-day trading on Wednesday . The company traded as high as C$4.53 and last traded at C$4.45. Approximately 1,018,652 shares changed hands during trading, a decline of 42% from the average daily volume of 1,755,067 shares. The stock had previously closed at C$4.27.

Analysts Set New Price Targets

NGD has been the subject of several research reports. National Bank Financial upgraded shares of New Gold to a "strong-buy" rating in a research note on Friday, March 21st. Bank of America raised New Gold from an "underperform" rating to a "buy" rating and boosted their target price for the stock from C$3.65 to C$5.45 in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of C$4.34.

New Gold Stock Down 0.2 %

The company has a quick ratio of 1.64, a current ratio of 1.42 and a debt-to-equity ratio of 45.12. The stock has a market cap of C$2.73 billion, a PE ratio of 135.73, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59. The firm has a fifty day moving average of C$4.46 and a 200 day moving average of C$4.10.

Insider Activity

In other news, Senior Officer Keith Murphy sold 41,863 shares of the company's stock in a transaction 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. Company insiders own 4.92% of the company's stock.

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.