New Gold Inc. (NGD) Stock Price Up 4%
New Gold Inc. (TSE:NGD) (ARCA:NGD) shares rose 4% during trading on Friday . The company traded as high as C$4.76 and last traded at C$4.64. Approximately 974,615 shares were traded during trading, a decline of 9% from the average daily volume of 1,065,510 shares. The stock had previously closed at C$4.46.
NGD has been the subject of a number of recent research reports. National Bank Financial restated an “outperform market weight” rating on shares of New Gold in a research note on Sunday, July 23rd. Scotiabank upgraded New Gold to a “sector perform” rating and set a C$5.00 price objective for the company in a research note on Friday, September 29th. Finally, Canaccord Genuity upgraded New Gold from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$4.75 to C$5.75 in a research note on Friday. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. New Gold has a consensus rating of “Hold” and a consensus target price of C$5.00.
The stock has a 50-day moving average of $4.70 and a 200-day moving average of $4.22. The firm has a market capitalization of $2.66 billion and a P/E ratio of 47.53.
In related news, Director James Estey sold 28,000 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of C$4.77, for a total transaction of C$133,560.00.
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New Gold Company Profile
New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.
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