Brokerages Set New Gold Inc. (TSE:NGD) Target Price at C$3.06

New Gold Inc. (TSE:NGD) (ARCA:NGD) has been given a consensus rating of “Buy” by the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, three have assigned 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 a report on the stock in the last year is C$3.06.

Several equities research analysts have issued reports on the stock. BMO Capital Markets lifted their target price on shares of New Gold from C$3.00 to C$3.50 and gave the stock an “outperform” rating in a research note on Friday, May 31st. National Bankshares upgraded shares of New Gold from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$3.25 to C$3.50 in a report on Tuesday, May 21st. Canaccord Genuity Group increased their target price on New Gold from C$2.75 to C$3.00 in a research note on Tuesday, April 23rd. TD Securities raised shares of New Gold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, Scotiabank raised New Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 21st.

New Gold Trading Down 1.5 %

Shares of TSE:NGD opened at C$2.70 on Friday. The business has a 50 day moving average of C$2.67 and a two-hundred day moving average of C$2.21. New Gold has a 12-month low of C$1.17 and a 12-month high of C$3.15. The company has a market capitalization of C$1.86 billion, a PE ratio of -19.29, a PEG ratio of -3.02 and a beta of 1.60. The company has a current ratio of 1.51, a quick ratio of 1.64 and a debt-to-equity ratio of 54.32.

New Gold (TSE:NGD) (ARCA:NGD) last issued its quarterly earnings data on Tuesday, April 30th. The company reported C$0.03 EPS for the quarter, beating the consensus estimate of C$0.01 by C$0.02. The company had revenue of C$258.98 million for the quarter. New Gold had a negative return on equity of 9.44% and a negative net margin of 9.81%. As a group, analysts forecast that New Gold will post 0.2190332 EPS for the current year.

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.