New Gold (TSE:NGD) Sets New 52-Week High – Here’s What Happened

New Gold Inc. (TSE:NGD) (ARCA:NGD) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as C$15.97 and last traded at C$15.67, with a volume of 1503856 shares. The stock had previously closed at C$15.40.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NGD. National Bankshares lifted their price objective on New Gold from C$11.50 to C$12.50 and gave the company an “outperform” rating in a research note on Thursday, October 30th. TD Securities raised shares of New Gold from a “hold” rating to a “buy” rating and raised their target price for the company from C$7.50 to C$12.00 in a report on Monday, December 1st. Finally, Canaccord Genuity Group lifted their price target on shares of New Gold from C$9.00 to C$12.50 in a research note on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$10.61.

New Gold Trading Up 0.3%

The company has a market cap of C$12.30 billion, a price-to-earnings ratio of 48.53, a PEG ratio of -3.02 and a beta of 1.92. The company has a quick ratio of 1.64, a current ratio of 1.42 and a debt-to-equity ratio of 45.12. The business’s fifty day simple moving average is C$11.98 and its two-hundred day simple moving average is C$9.57.

New Gold (TSE:NGD) (ARCA:NGD) last posted its earnings results on Tuesday, October 28th. The company reported C$0.25 EPS for the quarter. New Gold had a net margin of 2.33% and a return on equity of 2.31%. The firm had revenue of C$643.99 million for the quarter.

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.