New Gold (TSE:NGD) Shares Pass Above Fifty Day Moving Average of $1.45

New Gold Inc. (TSE:NGD – Get Rating) (ARCA:NGD) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$1.45 and traded as high as C$1.54. New Gold shares last traded at C$1.52, with a volume of 1,369,509 shares.

Analyst Ratings Changes

NGD has been the subject of several recent research reports. Royal Bank of Canada raised New Gold to a “buy” rating and set a C$1.25 price objective for the company in a report on Monday, October 3rd. Cormark boosted their target price on New Gold from C$1.00 to C$1.30 in a research report on Monday, October 3rd. Canaccord Genuity Group lowered their price objective on New Gold from C$1.75 to C$1.60 in a research report on Thursday, October 20th. TD Securities downgraded New Gold to a “sell” rating and set a C$0.85 price objective for the company. in a research report on Tuesday, December 6th. Finally, Bank of America reduced their target price on New Gold from C$1.30 to C$1.25 in a research note on Tuesday, November 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$1.36.

New Gold Stock Performance

The stock has a market capitalization of C$1.04 billion and a PE ratio of 7.24. The business has a 50 day moving average price of C$1.45 and a 200 day moving average price of C$1.22. The company has a debt-to-equity ratio of 39.81, a current ratio of 2.25 and a quick ratio of 1.64.

New Gold (TSE:NGD – Get Rating) (ARCA:NGD) last announced its quarterly earnings results on Thursday, November 3rd. The company reported C($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.02) by C($0.01). The firm had revenue of C$197.29 million during the quarter. As a group, equities research analysts expect that New Gold Inc. will post 0.12 earnings per share for the current year.

New Gold Company Profile

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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.