Shares of New Gold Inc. (TSE:NGD – Get Rating) (ARCA:NGD) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$1.62 and traded as high as C$1.83. New Gold shares last traded at C$1.78, with a volume of 818,120 shares trading hands.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the stock. National Bankshares cut their price objective on shares of New Gold from C$2.25 to C$2.20 and set a “sector perform” rating on the stock in a report on Friday, April 28th. Bank of America lifted their price objective on shares of New Gold from C$1.30 to C$1.40 in a report on Wednesday, April 5th. Raymond James lifted their price target on shares of New Gold from C$1.00 to C$1.50 and gave the stock a “market perform” rating in a report on Thursday, April 20th. National Bank Financial cut their price target on shares of New Gold from C$2.25 to C$2.00 in a report on Friday, April 28th. Finally, Laurentian cut their price target on shares of New Gold from C$2.75 to C$2.50 in a report on Friday, February 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$1.57.
New Gold Stock Down 2.7 %
The stock has a market capitalization of C$1.22 billion, a PE ratio of -9.37, a price-to-earnings-growth ratio of -3.02 and a beta of 1.70. The company has a debt-to-equity ratio of 45.89, a current ratio of 2.28 and a quick ratio of 1.64. The business’s fifty day moving average price is C$1.62 and its two-hundred day moving average price is C$1.48.
About New Gold
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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