New Gold (TSE:NGD) Trading 3.1% Higher

New Gold Inc. (TSE:NGDGet Rating) (ARCA:NGD) shares rose 3.1% during trading on Tuesday . The company traded as high as C$1.35 and last traded at C$1.34. Approximately 135,700 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 1,599,980 shares. The stock had previously closed at C$1.30.

Analyst Upgrades and Downgrades

NGD has been the subject of a number of analyst reports. Canaccord Genuity Group reduced their price target on New Gold from C$1.75 to C$1.60 in a research report on Thursday, October 20th. National Bankshares upped their price target on New Gold from C$1.40 to C$1.50 and gave the stock a “sector perform” rating in a research report on Thursday, October 13th. Royal Bank of Canada upgraded New Gold to a “buy” rating and set a C$1.25 price target for the company in a research report on Monday, October 3rd. Cormark upped their price target on New Gold from C$1.00 to C$1.30 in a research report on Monday, October 3rd. Finally, BMO Capital Markets reduced their price target on New Gold from C$3.00 to C$2.00 in a research report on Wednesday, July 13th.

New Gold Stock Performance

The stock has a market cap of C$934.75 million and a P/E ratio of 6.85. The company has a quick ratio of 1.63, a current ratio of 2.25 and a debt-to-equity ratio of 38.97. The business has a 50 day moving average price of C$1.17 and a two-hundred day moving average price of C$1.30.

Insider Transactions at New Gold

In other news, Senior Officer Robert Joseph Chausse purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was bought at an average cost of C$1.01 per share, with a total value of C$101,000.00. Following the completion of the purchase, the insider now owns 703,803 shares in the company, valued at C$710,841.03. In other news, Senior Officer Robert Joseph Chausse purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was bought at an average cost of C$1.01 per share, with a total value of C$101,000.00. Following the completion of the purchase, the insider now owns 703,803 shares in the company, valued at C$710,841.03. Also, Senior Officer Patrick Godin purchased 55,000 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The shares were purchased at an average cost of C$0.90 per share, with a total value of C$49,500.00. Following the completion of the purchase, the insider now owns 55,000 shares of the company’s stock, valued at approximately C$49,500. Insiders acquired a total of 308,000 shares of company stock valued at $290,150 over the last 90 days.

About New Gold

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New Gold Inc, an intermediate gold mining company, engages in the exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interests in the Rainy River mine located in Ontario, Canada; and New Afton mine situated in British Columbia, Canada.

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