New Gold (TSE:NGD) Price Target Raised to C$3.00

New Gold (TSE:NGD) (ARCA:NGD) had its price objective increased by Canaccord Genuity Group from C$2.75 to C$3.00 in a report issued on Tuesday, BayStreet.CA reports.

Several other research firms have also weighed in on NGD. National Bankshares cut their target price on New Gold from C$2.25 to C$2.00 and set a sector perform rating on the stock in a research note on Tuesday, February 20th. Bank of America increased their target price on New Gold from C$1.90 to C$2.30 in a research note on Tuesday, April 9th. Finally, National Bank Financial reissued a sector perform spec overwgt rating on shares of New Gold in a research note on Monday, April 8th.

New Gold Trading Up 0.9 %

Shares of NGD opened at C$2.35 on Tuesday. The company has a quick ratio of 1.64, a current ratio of 1.54 and a debt-to-equity ratio of 50.84. New Gold has a 12-month low of C$1.17 and a 12-month high of C$2.67. The firm has a market capitalization of C$1.61 billion, a PE ratio of -19.58, a price-to-earnings-growth ratio of -3.02 and a beta of 1.52. The stock’s fifty day simple moving average is C$2.08 and its 200-day simple moving average is C$1.86.

New Gold (TSE:NGD) (ARCA:NGD) last issued its quarterly earnings results on Tuesday, February 13th. The company reported C($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.03 by C($0.04). New Gold had a negative net margin of 8.20% and a negative return on equity of 7.38%. The firm had revenue of C$271.22 million for the quarter. As a group, research analysts predict that New Gold will post 0.1355088 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.