New Gold Inc. (TSE:NGD) Given Average Rating of “Buy” by Brokerages

by · The Markets Daily

Shares of New Gold Inc. (TSE:NGD – Get Free Report) (ARCA:NGD) have earned an average recommendation of “Buy” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$3.71.

Several research analysts have recently issued reports on the stock. Cibc World Mkts upgraded shares of New Gold to a “strong-buy” rating in a report on Wednesday, July 10th. National Bankshares increased their target price on New Gold from C$4.00 to C$4.25 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Canaccord Genuity Group boosted their price target on New Gold from C$4.00 to C$4.50 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, BMO Capital Markets raised their price objective on shares of New Gold from C$4.25 to C$4.50 in a report on Wednesday, July 31st.

Read Our Latest Stock Report on New Gold

Insider Buying and Selling at New Gold

In other news, Senior Officer Sean William Keating sold 45,833 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of C$4.17, for a total value of C$191,123.61. Insiders own 4.92% of the company’s stock.

New Gold Price Performance

NGD stock opened at C$3.74 on Thursday. The stock has a market cap of C$2.96 billion, a price-to-earnings ratio of -93.50, a P/E/G ratio of -3.02 and a beta of 1.59. The company has a debt-to-equity ratio of 52.45, a current ratio of 1.50 and a quick ratio of 1.64. The company has a 50 day simple moving average of C$3.83 and a 200 day simple moving average of C$3.20. New Gold has a 1 year low of C$1.47 and a 1 year high of C$4.37.

About New Gold

(Get Free Report

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.

See Also