Shares of New Gold Inc. (NYSE:NGD – Get Free Report) have earned a consensus rating of “Buy” from the six analysts that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $2.49.
Several equities analysts have commented on the stock. National Bank Financial raised shares of New Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 17th. BMO Capital Markets began coverage on New Gold in a research report on Friday, May 31st. They issued an “outperform” rating and a $3.50 target price for the company. StockNews.com downgraded New Gold from a “buy” rating to a “hold” rating in a research note on Saturday. TD Securities raised New Gold from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. Finally, CIBC upped their price target on shares of New Gold from $3.00 to $3.40 and gave the company an “outperformer” rating in a report on Wednesday, July 10th.
Check Out Our Latest Research Report on New Gold
Hedge Funds Weigh In On New Gold
New Gold Price Performance
Shares of NYSE NGD opened at $2.65 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.50 and a quick ratio of 0.89. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -26.50 and a beta of 1.32. New Gold has a 1-year low of $0.86 and a 1-year high of $2.73. The stock has a fifty day moving average of $2.21.
New Gold (NYSE:NGD – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. New Gold had a negative net margin of 2.53% and a positive return on equity of 5.22%. The company had revenue of $218.20 million for the quarter. Equities research analysts expect that New Gold will post 0.14 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.
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