New Gold (TSE:NGD) Upgraded at CIBC

CIBC upgraded shares of New Gold (TSE:NGD) (ARCA:NGD) from a neutral rating to an outperform rating in a report published on Monday morning, BayStreet.CA reports. The brokerage currently has C$3.00 price target on the stock, up from their previous price target of C$2.10.

NGD has been the topic of a number of other research reports. Scotiabank raised New Gold from a hold rating to a strong-buy rating in a research note on Tuesday, May 21st. National Bank Financial raised New Gold from a hold rating to a strong-buy rating in a research report on Friday, May 17th. Canaccord Genuity Group increased their target price on New Gold from C$2.75 to C$3.00 in a research report on Tuesday, April 23rd. Bank of America increased their target price on New Gold from C$1.90 to C$2.30 in a research report on Tuesday, April 9th. Finally, National Bankshares raised New Gold from a sector perform rating to an outperform rating and increased their target price for the stock from C$3.25 to C$3.50 in a research report on Tuesday, May 21st. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Buy and an average price target of C$3.06.

New Gold Trading Up 1.1 %

Shares of New Gold stock opened at C$2.81 on Monday. New Gold has a fifty-two week low of C$1.17 and a fifty-two week high of C$3.15. The firm has a market cap of C$1.94 billion, a PE ratio of -20.07, a P/E/G ratio of -3.02 and a beta of 1.60. The business’s fifty day moving average is C$2.55 and its two-hundred day moving average is C$2.10. The company has a quick ratio of 1.64, a current ratio of 1.51 and a debt-to-equity ratio of 54.32.

New Gold (TSE:NGD) (ARCA:NGD) last issued its quarterly earnings results on Tuesday, April 30th. The company reported C$0.03 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.01 by C$0.02. New Gold had a negative return on equity of 9.44% and a negative net margin of 9.81%. The company had revenue of C$258.98 million for the quarter. Analysts anticipate that New Gold will post 0.2190332 earnings per share for the current year.

About New Gold

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.