New Gold (TSE:NGD) Reaches New 12-Month High – Time to Buy?

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$5.07 and last traded at C$5.03, with a volume of 300845 shares trading hands. The stock had previously closed at C$4.81.

Analyst Upgrades and Downgrades

Separately, National Bank Financial raised shares of New Gold to a “strong-buy” rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$3.71.

New Gold Stock Performance

The company’s 50-day moving average price is C$4.24 and its 200 day moving average price is C$3.98. The stock has a market capitalization of C$2.75 billion, a PE ratio of 136.83, a PEG ratio of -3.02 and a beta of 1.59. The company has a debt-to-equity ratio of 45.12, a quick ratio of 1.64 and a current ratio of 1.42.

Insiders Place Their Bets

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

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.