Analysts Set New Gold Inc. (TSE:NGD) Price Target at C$4.34

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) have been given a consensus rating of “Buy” by the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is C$4.34.

Several research firms have weighed in on NGD. Bank of America upgraded shares of New Gold from an “underperform” rating to a “buy” rating and increased their target price for the stock from C$3.65 to C$5.45 in a report on Wednesday, March 26th. National Bank Financial upgraded shares of New Gold to a “strong-buy” rating in a report on Friday, March 21st.

Insider Activity

In other New Gold news, Senior Officer Sean William Keating sold 49,048 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of C$5.40, for a total value of C$264,859.20. Also, Senior Officer Ankit Shah sold 42,699 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of C$5.67, for a total transaction of C$242,103.33. In the last three months, insiders have sold 133,610 shares of company stock valued at $686,555. 4.92% of the stock is currently owned by insiders.

New Gold Price Performance

Shares of NGD stock opened at C$5.71 on Wednesday. New Gold has a 1 year low of C$2.56 and a 1 year high of C$5.83. The firm’s 50 day moving average is C$5.01 and its 200-day moving average is C$4.33. The firm has a market capitalization of C$3.14 billion, a price-to-earnings ratio of 156.26, a PEG 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.

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.