New Gold Inc. (TSE:NGD) Receives C$3.71 Average Price Target from Analysts

New Gold Inc. (TSE:NGD) (ARCA:NGD) has been given a consensus recommendation of “Buy” by the nine research firms that are currently covering the stock, Marketbeat Ratings reports. One 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. The average 1 year target price among brokers that have issued ratings on the stock in the last year is C$4.34.

Several analysts recently commented on the stock. National Bank Financial upgraded shares of New Gold to a “strong-buy” rating in a report on Friday, March 21st. Bank of America upgraded shares of New Gold from an “underperform” rating to a “buy” rating and boosted their price target for the company from C$3.65 to C$5.45 in a report on Wednesday.

New Gold Stock Up 0.2 %

Shares of New Gold stock opened at C$5.18 on Tuesday. New Gold has a 1 year low of C$2.26 and a 1 year high of C$5.39. The company has a market cap of C$2.85 billion, a P/E ratio of 141.76, a P/E/G ratio of -3.02 and a beta of 1.59. The company has a current ratio of 1.42, a quick ratio of 1.64 and a debt-to-equity ratio of 45.12. The stock has a 50-day moving average price of C$4.31 and a 200 day moving average price of C$4.02.

Insider Transactions at New Gold

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