New Gold Inc. (TSE:NGD) Given Average Recommendation of “Buy” by Brokerages

New Gold Inc. (TSE:NGD) (ARCA:NGD) has earned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$3.06.

NGD has been the subject of a number of research reports. Bank of America lifted their price objective on shares of New Gold from C$1.90 to C$2.30 in a report on Tuesday, April 9th. CIBC raised shares of New Gold from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from C$2.10 to C$3.00 in a research report on Monday, June 3rd. Scotiabank raised shares of New Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Cibc World Mkts raised New Gold to a “strong-buy” rating in a report on Monday, June 3rd. Finally, TD Securities upgraded New Gold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 21st.

New Gold Stock Performance

Shares of NGD stock opened at C$2.74 on Friday. The stock has a market capitalization of C$1.89 billion, a price-to-earnings ratio of -19.57, a PEG ratio of -3.02 and a beta of 1.60. New Gold has a one year low of C$1.17 and a one year high of C$3.15. The company’s 50-day simple moving average is C$2.66 and its 200-day simple moving average is C$2.20. The company has a debt-to-equity ratio of 54.32, a quick ratio of 1.64 and a current ratio of 1.51.

New Gold (TSE:NGD) (ARCA:NGD) last released its earnings results on Tuesday, April 30th. The company reported C$0.03 EPS for the quarter, topping 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 company had revenue of C$258.98 million for the quarter. Equities analysts anticipate that New Gold will post 0.2190332 earnings per share for the current fiscal year.

About New Gold

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.