New Gold (TSE:NGD) Hits New 12-Month High at $3.34

New Gold Inc. (TSE:NGD) (ARCA:NGD) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$3.34 and last traded at C$3.27, with a volume of 2365087 shares trading hands. The stock had previously closed at C$3.07.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NGD. CIBC upgraded shares of New Gold from a “neutral” rating to an “outperform” rating and upped their price target for the company from C$2.10 to C$3.00 in a research report on Monday, June 3rd. Cibc World Mkts upgraded shares of New Gold to a “strong-buy” rating in a research report on Monday, June 3rd. National Bankshares upgraded shares of New Gold from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$3.25 to C$3.50 in a research report on Tuesday, May 21st. Bank of America upped their price target on shares of New Gold from C$1.90 to C$2.30 in a research report on Tuesday, April 9th. Finally, Canaccord Genuity Group increased their price objective on shares of New Gold from C$2.75 to C$3.00 in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$3.06.

New Gold Trading Up 7.5 %

The firm has a market cap of C$2.28 billion, a P/E ratio of -23.43, a price-to-earnings-growth ratio of -3.02 and a beta of 1.60. 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’s 50-day simple moving average is C$2.73 and its 200 day simple moving average is C$2.25.

New Gold (TSE:NGD) (ARCA:NGD) last issued its quarterly earnings data on Tuesday, April 30th. The company reported C$0.03 EPS for the quarter, beating the consensus estimate of C$0.01 by C$0.02. The company had revenue of C$258.98 million during the quarter. New Gold had a negative net margin of 9.81% and a negative return on equity of 9.44%. As a group, analysts expect that New Gold Inc. 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.