New Gold (TSE:NGD) Shares Down 4.1% - Here's What Happened

New Gold Inc. (TSE:NGD - Get Free Report) ARCA: NGD's stock price fell 4.1% on Tuesday . The company traded as low as C$4.82 and last traded at C$4.88. 1,383,274 shares were traded during trading, a decline of 23% from the average session volume of 1,801,832 shares. The stock had previously closed at C$5.09.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NGD shares. 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 shares of New Gold from an "underperform" rating to a "buy" rating and boosted their target price for the company from C$3.65 to C$5.45 in a report on Wednesday, March 26th. One equities research 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 company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of C$4.34.

New Gold Trading Down 2.5 %

The firm has a 50-day moving average price of C$4.58 and a 200-day moving average price of C$4.16. The company has a debt-to-equity ratio of 45.12, a quick ratio of 1.64 and a current ratio of 1.42. The stock has a market cap of C$2.59 billion, a PE ratio of 128.62, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59.

Insider Activity at New Gold

In other news, Senior Officer Keith Murphy sold 41,863 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of C$4.29, for a total transaction of C$179,592.27. 4.92% of the stock is owned by company insiders.

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.