New Gold (TSE:NGD) Price Target Raised to C$1.60 at Canaccord Genuity
New Gold (TSE:NGD) (ARCA:NGD) had its price objective increased by analysts at Canaccord Genuity from C$1.40 to C$1.60 in a note issued to investors on Wednesday, BayStreet.CA reports. Canaccord Genuity’s price objective indicates a potential upside of 18.96% from the stock’s previous close.
NGD has been the topic of several other reports. National Bank Financial decreased their price objective on shares of New Gold from C$1.50 to C$1.30 and set a “sector perform” rating on the stock in a report on Monday, November 18th. BMO Capital Markets decreased their price objective on shares of New Gold from C$2.00 to C$1.50 in a report on Wednesday, December 18th.
Shares of TSE:NGD traded up C$0.09 on Wednesday, hitting C$1.35. The company had a trading volume of 653,817 shares, compared to its average volume of 1,536,679. New Gold has a 1-year low of C$0.82 and a 1-year high of C$2.03. The stock has a market cap of $827.67 million and a price-to-earnings ratio of -0.98. The stock has a 50 day moving average price of C$1.15 and a 200 day moving average price of C$1.38. The company has a current ratio of 1.80, a quick ratio of 1.10 and a debt-to-equity ratio of 79.49.
About New Gold
New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the Rainy River project located in Ontario, Canada; the New Afton project located near Kamloops, British Columbia, Canada; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.
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