New Gold (TSE:NGD) Upgraded at Bank of America

New Gold (TSE:NGD) (ARCA:NGD) was upgraded by analysts at Bank of America from an “underperform” rating to a “buy” rating in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a C$5.45 price target on the stock, up from their previous price target of C$3.65. Bank of America‘s target price indicates a potential upside of 5.42% from the stock’s previous close.

Separately, National Bank Financial raised New Gold to a “strong-buy” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$4.34.

New Gold Stock Up 4.7 %

Shares of NGD opened at C$5.17 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 1.42 and a debt-to-equity ratio of 45.12. The company has a 50-day moving average price of C$4.29 and a two-hundred day moving average price of C$4.00. The stock has a market cap of C$2.84 billion, a price-to-earnings ratio of 141.48, a P/E/G ratio of -3.02 and a beta of 1.59. New Gold has a 12 month low of C$2.26 and a 12 month high of C$5.18.

Insider Transactions at New Gold

In related news, Senior Officer Keith Murphy sold 41,863 shares of New Gold stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of C$4.29, for a total value of C$179,592.27. Company insiders own 4.92% of the company’s stock.

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.