New Gold Inc. (TSE:NGD - Get Free Report) ARCA: NGD's share price traded up 19.3% during mid-day trading on Thursday . The company traded as high as C$5.49 and last traded at C$5.49. 5,448,480 shares traded hands during trading, an increase of 191% from the average session volume of 1,871,202 shares. The stock had previously closed at C$4.60.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on NGD shares. Bank of America raised shares of New Gold from an "underperform" rating to a "buy" rating and lifted their price objective for the stock from C$3.65 to C$5.45 in a research note on Wednesday, March 26th. National Bank Financial upgraded New Gold to a "strong-buy" rating in a research report on Friday, March 21st. One investment 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's stock. According to data from MarketBeat, New Gold currently has an average rating of "Buy" and an average price target of C$4.34.
Read Our Latest Stock Report on New Gold
New Gold Trading Down 2.9 %
The company's 50 day simple moving average is C$4.78 and its 200-day simple moving average is C$4.24. The firm has a market cap of C$3.09 billion, a P/E ratio of 153.80, a P/E/G ratio of -3.02 and a beta of 1.59. The company has a quick ratio of 1.64, a current ratio of 1.42 and a debt-to-equity ratio of 45.12.
Insider Buying and Selling
In other news, Senior Officer Sean William Keating sold 49,048 shares of the firm's stock in a transaction that occurred 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 Keith Murphy sold 41,863 shares of New Gold 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 transaction of C$179,592.27. 4.92% of the stock is owned by corporate insiders.
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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