Brokerages Set New Gold Inc. (TSE:NGD) Price Target at C$4.34

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) have received a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is C$4.34.

NGD has been the topic of several research analyst reports. National Bank Financial upgraded shares of New Gold to a “strong-buy” rating in a research note on Friday, March 21st. Bank of America upgraded shares of New Gold from an “underperform” rating to a “buy” rating and raised their target price for the stock from C$3.65 to C$5.45 in a research note on Wednesday, March 26th.

Insider Buying and Selling

In other New Gold news, Senior Officer Keith Murphy sold 41,863 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of C$4.29, for a total transaction of C$179,592.27. 4.92% of the stock is currently owned by corporate insiders.

New Gold Stock Performance

Shares of New Gold stock opened at C$5.09 on Friday. The business has a 50-day simple moving average of C$4.53 and a 200-day simple moving average of C$4.14. The company has a debt-to-equity ratio of 45.12, a quick ratio of 1.64 and a current ratio of 1.42. New Gold has a one year low of C$2.29 and a one year high of C$5.39. The company has a market cap of C$2.80 billion, a PE ratio of 139.29, a P/E/G ratio of -3.02 and a beta of 1.59.

New Gold Company Profile

New Gold Inc is an intermediate gold mining company. The company has a portfolio of two producing assets: Rainy River Mine and New Afton Mine in Canada. Also, it has interests in the Cerro San Pedro Mine in Mexico. The company derives revenue from the sale of Gold, Copper, and Silver.