New Gold (TSE:NGD) Given New C$12.50 Price Target at Canaccord Genuity Group

New Gold (TSE:NGD) (ARCA:NGD) had its price target upped by Canaccord Genuity Group from C$9.00 to C$12.50 in a report published on Thursday,BayStreet.CA reports.

Several other equities analysts have also recently issued reports on NGD. Raymond James Financial raised New Gold to a “hold” rating in a research report on Monday, June 30th. National Bankshares upped their price objective on New Gold from C$8.00 to C$9.50 and gave the company an “outperform” rating in a research report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, New Gold currently has a consensus rating of “Buy” and a consensus price target of C$9.15.

New Gold Stock Performance

New Gold stock opened at C$10.25 on Thursday. The company has a market capitalization of C$8.11 billion, a P/E ratio of 51.25, a PEG ratio of -3.02 and a beta of 1.21. New Gold has a twelve month low of C$3.43 and a twelve month high of C$10.34. The company has a quick ratio of 1.64, a current ratio of 1.42 and a debt-to-equity ratio of 45.12. The stock’s 50 day moving average is C$7.96 and its 200 day moving average is C$6.48.

About New Gold

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.