New Gold (TSE:NGD) Shares Pass Above Fifty Day Moving Average of $2.63

New Gold Inc. (TSE:NGD) (ARCA:NGD) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$2.63 and traded as high as C$2.73. New Gold shares last traded at C$2.70, with a volume of 1,656,180 shares.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. National Bank Financial raised New Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, May 17th. Canaccord Genuity Group lifted their price objective on New Gold from C$2.75 to C$3.00 in a research report on Tuesday, April 23rd. Bank of America lifted their price objective on New Gold from C$1.90 to C$2.30 in a research report on Tuesday, April 9th. Scotiabank raised New Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Finally, National Bankshares raised New Gold from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$3.25 to C$3.50 in a research report on Tuesday, May 21st. One research 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’s stock. According to MarketBeat.com, New Gold currently has a consensus rating of “Buy” and a consensus target price of C$3.06.

New Gold Stock Performance

The stock has a 50-day simple moving average of C$2.63 and a 200-day simple moving average of C$2.16. The company has a debt-to-equity ratio of 54.32, a current ratio of 1.51 and a quick ratio of 1.64. The stock has a market cap of C$1.86 billion, a PE ratio of -19.29, a P/E/G ratio of -3.02 and a beta of 1.60.

New Gold (TSE:NGD) (ARCA:NGD) last posted its quarterly earnings results on Tuesday, April 30th. The company reported C$0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.01 by C$0.02. New Gold had a negative return on equity of 9.44% and a negative net margin of 9.81%. The firm had revenue of C$258.98 million during the quarter. Equities analysts predict that New Gold Inc. will post 0.2190332 earnings per share for the current fiscal 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.