New Gold Inc. (TSE:NGD) Receives C$3.71 Average Price Target from Analysts

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

Several research firms recently weighed in on NGD. Bank of America upgraded New Gold from an “underperform” rating to a “buy” rating and increased 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 shares of New Gold to a “strong-buy” rating in a research report on Friday, March 21st.

Insider Transactions at New Gold

In other New Gold news, Senior Officer Keith Murphy sold 41,863 shares of New Gold 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. Company insiders own 4.92% of the company’s stock.

New Gold Stock Up 2.7 %

Shares of New Gold stock opened at C$5.32 on Tuesday. The stock has a market cap of C$2.93 billion, a price-to-earnings ratio of 145.59, 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 has a fifty-two week low of C$2.26 and a fifty-two week high of C$5.39. The business’s fifty day simple moving average is C$4.34.

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.