New Gold (TSE:NGD) Reaches New 1-Year High – Should You Buy?

New Gold Inc. (TSE:NGD) (ARCA:NGD) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$12.20 and last traded at C$12.08, with a volume of 360568 shares changing hands. The stock had previously closed at C$11.47.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NGD shares. Canaccord Genuity Group lifted their price target on shares of New Gold from C$9.00 to C$12.50 in a research report on Thursday, October 2nd. TD Securities raised shares of New Gold from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$7.50 to C$12.00 in a research report on Monday, December 1st. Finally, National Bankshares boosted their target price on New Gold from C$11.50 to C$12.50 and gave the company an “outperform” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, New Gold currently has a consensus rating of “Buy” and an average target price of C$10.61.

New Gold Stock Up 6.8%

The business’s fifty day moving average is C$10.30 and its two-hundred day moving average is C$8.49. The stock has a market cap of C$9.70 billion, a price-to-earnings ratio of 38.28, a PEG ratio of -3.02 and a beta of 2.02. The company has a quick ratio of 1.64, a current ratio of 1.42 and a debt-to-equity ratio of 45.12.

New Gold (TSE:NGD) (ARCA:NGD) last released its earnings results on Tuesday, October 28th. The company reported C$0.25 earnings per share (EPS) for the quarter. The company had revenue of C$643.99 million for the quarter. New Gold had a net margin of 2.33% and a return on equity of 2.31%.

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.