New Gold (TSE:NGD) Price Target Increased to C$3.00 by Analysts at Canaccord Genuity Group

New Gold (TSE:NGD) (ARCA:NGD) had its price objective raised by Canaccord Genuity Group from C$2.75 to C$3.00 in a research report released on Tuesday morning, BayStreet.CA reports.

Several other equities research analysts also recently commented on NGD. Bank of America upped their target price on New Gold from C$1.90 to C$2.30 in a report on Tuesday, April 9th. National Bankshares decreased their price target on New Gold from C$2.25 to C$2.00 and set a sector perform rating for the company in a research report on Tuesday, February 20th. Finally, National Bank Financial reiterated a sector perform spec overwgt rating on shares of New Gold in a research report on Monday, April 8th.

New Gold Trading Up 0.9 %

Shares of New Gold stock opened at C$2.35 on Tuesday. The company has a quick ratio of 1.64, a current ratio of 1.54 and a debt-to-equity ratio of 50.84. The firm has a market cap of C$1.61 billion, a price-to-earnings ratio of -19.58, a price-to-earnings-growth ratio of -3.02 and a beta of 1.52. The business has a fifty day simple moving average of C$2.08 and a 200-day simple moving average of C$1.86. New Gold has a fifty-two week low of C$1.17 and a fifty-two week high of C$2.67.

New Gold (TSE:NGD) (ARCA:NGD) last announced its quarterly earnings data on Tuesday, February 13th. The company reported C($0.01) earnings per share for the quarter, missing the consensus estimate of C$0.03 by C($0.04). The firm had revenue of C$271.22 million during the quarter. New Gold had a negative net margin of 8.20% and a negative return on equity of 7.38%. On average, equities analysts forecast that New Gold will post 0.1355088 EPS for the current fiscal year.

About New Gold

New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.