New Gold Inc. (TSE:NGD) Receives C$3.71 Average PT from Analysts

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) have earned an average rating of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is C$3.71.

NGD has been the topic of a number of research reports. Cibc World Mkts raised shares of New Gold to a “strong-buy” rating in a research note on Wednesday, July 10th. National Bankshares boosted their target price on shares of New Gold from C$4.00 to C$4.25 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. BMO Capital Markets lifted their price target on shares of New Gold from C$4.25 to C$4.50 in a report on Wednesday, July 31st. Finally, Canaccord Genuity Group boosted their target price on shares of New Gold from C$4.00 to C$4.50 and gave the stock a “buy” rating in a report on Thursday, August 22nd.

New Gold Stock Down 1.1 %

Shares of NGD opened at C$3.72 on Friday. The firm has a market cap of C$2.94 billion, a PE ratio of -93.00, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59. The company’s fifty day moving average is C$3.56 and its two-hundred day moving average is C$2.99. New Gold has a fifty-two week low of C$1.36 and a fifty-two week high of C$4.37. The company has a quick ratio of 1.64, a current ratio of 1.50 and a debt-to-equity ratio of 52.45.

New Gold (TSE:NGD) (ARCA:NGD) last issued its earnings results on Tuesday, July 30th. The company reported C$0.03 EPS for the quarter, beating analysts’ consensus estimates of C$0.02 by C$0.01. New Gold had a negative net margin of 2.53% and a negative return on equity of 2.23%. The business had revenue of C$298.55 million for the quarter.

Insider Buying and Selling

In related news, Senior Officer Sean William Keating sold 50,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of C$3.63, for a total transaction of C$181,500.00. 4.92% of the stock is owned by insiders.

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.