New Gold Inc. (TSE:NGD) Receives Consensus Recommendation of “Buy” from Brokerages

New Gold Inc. (TSE:NGDGet Free Report) (ARCA:NGD) has been assigned an average recommendation of “Buy” from the five analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$3.08.

NGD has been the topic of a number of recent analyst reports. Bank of America increased their price target on New Gold from C$1.90 to C$2.30 in a research note on Tuesday, April 9th. Canaccord Genuity Group raised their price target on New Gold from C$2.75 to C$3.00 in a research note on Tuesday, April 23rd. CIBC raised shares of New Gold from a “neutral” rating to an “outperform” rating and upped their price objective for the company from C$2.10 to C$3.00 in a research note on Monday. National Bank Financial raised shares of New Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. Finally, TD Securities raised shares of New Gold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 21st.

View Our Latest Report on NGD

New Gold Stock Performance

TSE NGD traded down C$0.06 during trading hours on Monday, hitting C$2.92. 1,151,393 shares of the stock were exchanged, compared to its average volume of 1,509,753. New Gold has a 12-month low of C$1.17 and a 12-month high of C$3.15. The stock has a 50-day moving average of C$2.52 and a 200 day moving average of C$2.09. The company has a market cap of C$2.02 billion, a price-to-earnings ratio of -20.79, a price-to-earnings-growth ratio of -3.02 and a beta of 1.60. The company has a quick ratio of 1.64, a current ratio of 1.51 and a debt-to-equity ratio of 54.32.

New Gold (TSE:NGDGet Free Report) (ARCA:NGD) last posted its quarterly earnings data on Tuesday, April 30th. The company reported C$0.03 EPS for the quarter, topping analysts’ consensus estimates of C$0.01 by C$0.02. New Gold had a negative return on equity of 9.44% and a negative net margin of 9.81%. The firm had revenue of C$258.98 million during the quarter. As a group, equities research analysts forecast that New Gold will post 0.2190332 earnings per share for the current year.

New Gold Company Profile

(Get Free Report

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.

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Analyst Recommendations for New Gold (TSE:NGD)

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