New Gold Inc. (TSE:NGD) Receives C$3.06 Average PT from Analysts

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) have received an average recommendation of “Buy” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$3.06.

Several equities research analysts have weighed in on NGD shares. Cibc World Mkts upgraded shares of New Gold to a “strong-buy” rating in a research note on Monday, June 3rd. Canaccord Genuity Group raised their target price on shares of New Gold from C$2.75 to C$3.00 in a research note on Tuesday, April 23rd. TD Securities upgraded shares of New Gold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 21st. CIBC upgraded shares of New Gold from a “neutral” rating to an “outperform” rating and raised their target price for the company from C$2.10 to C$3.00 in a research note on Monday, June 3rd. Finally, Bank of America raised their target price on shares of New Gold from C$1.90 to C$2.30 in a research note on Tuesday, April 9th.

New Gold Price Performance

TSE NGD opened at C$2.88 on Friday. The company has a debt-to-equity ratio of 54.32, a quick ratio of 1.64 and a current ratio of 1.51. The firm’s 50 day moving average price is C$2.70 and its 200-day moving average price is C$2.23. New Gold has a 52-week low of C$1.17 and a 52-week high of C$3.15. The company has a market cap of C$1.99 billion, a PE ratio of -20.57, a P/E/G ratio of -3.02 and a beta of 1.60.

New Gold (TSE:NGD) (ARCA:NGD) last released its quarterly earnings data on Tuesday, April 30th. The company reported C$0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.01 by C$0.02. New Gold had a negative net margin of 9.81% and a negative return on equity of 9.44%. The firm had revenue of C$258.98 million for the quarter. Sell-side analysts forecast that New Gold will post 0.2190332 EPS for the current fiscal 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.