Brokerages Set New Gold Inc. (TSE:NGD) PT at C$4.34

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) have been assigned a consensus rating of “Buy” from the nine analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, five have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$4.34.

Several research analysts have weighed in on NGD shares. Bank of America raised New Gold from an “underperform” rating to a “buy” rating and upped their target price for the stock from C$3.65 to C$5.45 in a research report on Wednesday, March 26th. National Bank Financial raised New Gold to a “strong-buy” rating in a report on Friday, March 21st.

New Gold Price Performance

NGD opened at C$5.09 on Friday. New Gold has a 12-month low of C$2.29 and a 12-month high of C$5.39. The company has a quick ratio of 1.64, a current ratio of 1.42 and a debt-to-equity ratio of 45.12. The firm has a market capitalization of C$2.80 billion, a P/E ratio of 139.29, a PEG ratio of -3.02 and a beta of 1.59. The stock has a fifty day moving average of C$4.53 and a 200-day moving average of C$4.14.

Insider Activity

In related news, Senior Officer Keith Murphy sold 41,863 shares of the 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 value of C$179,592.27. 4.92% of the stock is currently owned by corporate insiders.

About New Gold

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.