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

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) have been given an average rating of “Buy” by the eight research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$3.71.

NGD has been the topic of several recent research reports. TD Securities upgraded shares of New Gold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 21st. Cibc World Mkts upgraded shares of New Gold to a “strong-buy” rating in a research note on Wednesday, July 10th. Scotiabank upgraded shares of New Gold from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 21st. CIBC upgraded shares of New Gold from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from C$2.10 to C$3.00 in a research note on Monday, June 3rd. Finally, Canaccord Genuity Group lifted their price objective on shares of New Gold from C$4.00 to C$4.50 and gave the company a “buy” rating in a report on Thursday, August 22nd.

Insiders Place Their Bets

In other news, Senior Officer Sean William Keating sold 50,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of C$3.63, for a total value of C$181,500.00. 4.92% of the stock is owned by insiders.

New Gold Trading Down 3.1 %

Shares of New Gold stock opened at C$4.13 on Wednesday. The company’s fifty day simple moving average is C$3.28 and its 200-day simple moving average is C$2.79. The stock has a market capitalization of C$3.26 billion, a PE ratio of -103.25, a P/E/G ratio of -3.02 and a beta of 1.57. New Gold has a 1-year low of C$1.17 and a 1-year high of C$4.34. The company has a debt-to-equity ratio of 52.45, a current ratio of 1.50 and a quick ratio of 1.64.

New Gold (TSE:NGD) (ARCA:NGD) last released its earnings results on Tuesday, July 30th. The company reported C$0.03 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.02 by C$0.01. The company had revenue of C$298.55 million for the quarter. New Gold had a negative net margin of 2.53% and a negative return on equity of 2.23%. As a group, equities analysts anticipate that New Gold will post 0.3722467 earnings per share for the current year.

New Gold Company Profile

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.