New Gold Inc. (TSE:NGD) Given Average Recommendation of “Buy” by Analysts

New Gold Inc. (TSE:NGD) (ARCA:NGD) has been given a consensus rating of “Buy” by the nine brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$4.34.

A number of equities analysts have issued reports on the stock. Bank of America upgraded shares of New Gold from an “underperform” rating to a “buy” rating and boosted their price objective for the company from C$3.65 to C$5.45 in a research report on Wednesday, March 26th. National Bank Financial upgraded shares of New Gold to a “strong-buy” rating in a research report on Friday, March 21st.

Insider Activity at New Gold

In other New Gold news, Senior Officer Ankit Shah sold 42,699 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of C$5.67, for a total transaction of C$242,103.33. Also, Senior Officer Keith Murphy sold 41,863 shares of the firm’s 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 transaction of C$179,592.27. Insiders have sold 133,610 shares of company stock worth $686,555 over the last 90 days. 4.92% of the stock is owned by company insiders.

New Gold Price Performance

NGD stock opened at C$5.26 on Wednesday. The firm’s 50-day moving average price is C$4.97 and its two-hundred day moving average price is C$4.31. New Gold has a 12-month low of C$2.56 and a 12-month high of C$5.83. The stock has a market capitalization of C$2.89 billion, a price-to-earnings ratio of 143.94, a PEG 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.

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.