New Gold (TSE:NGD) Reaches New 12-Month High at $2.69

New Gold Inc. (TSE:NGD) (ARCA:NGD) hit a new 52-week high on Thursday . The company traded as high as C$2.69 and last traded at C$2.68, with a volume of 877273 shares trading hands. The stock had previously closed at C$2.57.

Wall Street Analysts Forecast Growth

NGD has been the topic of several research reports. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of New Gold in a research note on Monday, April 8th. Canaccord Genuity Group raised their price objective on shares of New Gold from C$2.75 to C$3.00 in a research note on Tuesday, April 23rd. Bank of America upped their target price on shares of New Gold from C$1.90 to C$2.30 in a research note on Tuesday, April 9th. Finally, National Bankshares decreased their price target on shares of New Gold from C$2.25 to C$2.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 20th.

New Gold Stock Performance

The stock has a 50-day moving average price of C$2.31 and a 200 day moving average price of C$1.95. The company has a quick ratio of 1.64, a current ratio of 1.51 and a debt-to-equity ratio of 54.32. The firm has a market capitalization of C$1.86 billion, a price-to-earnings ratio of -18.36, a P/E/G ratio of -3.02 and a beta of 1.61.

New Gold (TSE:NGD) (ARCA:NGD) last posted its quarterly earnings results on Tuesday, February 13th. The company reported C($0.01) EPS for the quarter, missing the consensus estimate of C$0.03 by C($0.04). New Gold had a negative return on equity of 9.44% and a negative net margin of 9.81%. The firm had revenue of C$271.22 million for the quarter. On average, analysts forecast that New Gold Inc. will post 0.1784946 EPS for the current year.

New Gold Company Profile

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.