New Gold Inc. (NYSEAMERICAN:NGD – Get Rating)’s share price rose 8.4% during mid-day trading on Thursday . The company traded as high as $0.83 and last traded at $0.83. Approximately 12,992 shares changed hands during trading, a decline of 100% from the average daily volume of 6,712,813 shares. The stock had previously closed at $0.76.
Wall Street Analyst Weigh In
NGD has been the topic of a number of research reports. National Bank Financial dropped their target price on shares of New Gold from C$1.50 to C$1.20 in a research report on Thursday, July 21st. Canaccord Genuity Group upgraded shares of New Gold from a “hold” rating to a “buy” rating in a report on Thursday, April 21st. BMO Capital Markets lowered their price objective on shares of New Gold from C$3.00 to C$2.00 in a report on Wednesday, July 13th. TheStreet downgraded shares of New Gold from a “b-” rating to a “c” rating in a report on Thursday, May 19th. Finally, Raymond James lowered their price objective on shares of New Gold from $2.00 to $1.50 and set a “market perform” rating on the stock in a report on Wednesday, July 13th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, New Gold currently has an average rating of “Hold” and a consensus price target of $1.51.
New Gold Stock Performance
The firm has a market cap of $552.31 million, a P/E ratio of -16.19, a PEG ratio of 1.21 and a beta of 1.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.68 and a current ratio of 2.38.
Institutional Investors Weigh In On New Gold
About New Gold
New Gold Inc, an intermediate gold mining company, engages in the exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interests in the Rainy River mine located in Ontario, Canada; and New Afton mine situated in British Columbia, Canada.
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