Analysts Set New Gold Inc. (TSE:NGD) PT at C$3.71

New Gold Inc. (TSE:NGD) (ARCA:NGD) has earned a consensus rating of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is C$4.34.

A number of brokerages recently commented on NGD. National Bank Financial raised New Gold to a “strong-buy” rating in a report on Friday, March 21st. Bank of America raised New Gold from an “underperform” rating to a “buy” rating and lifted their price objective for the company from C$3.65 to C$5.45 in a research report on Wednesday.

New Gold Stock Performance

Shares of TSE NGD opened at C$5.17 on Tuesday. New Gold has a 12-month low of C$2.26 and a 12-month high of C$5.18. The firm has a market capitalization of C$2.84 billion, a price-to-earnings ratio of 141.48, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59. The company has a current ratio of 1.42, a quick ratio of 1.64 and a debt-to-equity ratio of 45.12. The firm has a 50 day moving average of C$4.29 and a 200 day moving average of C$4.00.

Insider Buying and Selling

In related news, Senior Officer Keith Murphy sold 41,863 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 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.