New Gold (TSE:NGD) Price Target Raised to C$4.50 at BMO Capital Markets

New Gold (TSE:NGD) (ARCA:NGD) had its price objective lifted by BMO Capital Markets from C$4.25 to C$4.50 in a research note issued to investors on Wednesday, BayStreet.CA reports.

NGD has been the subject of a number of other research reports. Bank of America boosted their target price on New Gold from C$1.90 to C$2.30 in a research report on Tuesday, April 9th. CIBC upgraded New Gold from a neutral rating to an outperform rating and boosted their price target for the company from C$2.10 to C$3.00 in a research note on Monday, June 3rd. Cibc World Mkts upgraded New Gold to a strong-buy rating in a research note on Wednesday, July 10th. Scotiabank upgraded New Gold from a hold rating to a strong-buy rating in a research note on Tuesday, May 21st. Finally, TD Securities upgraded New Gold from a strong sell rating to a hold rating in a research note on Tuesday, May 21st. One 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 company. According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of C$3.61.

New Gold Price Performance

Shares of TSE:NGD opened at C$3.02 on Wednesday. New Gold has a fifty-two week low of C$1.17 and a fifty-two week high of C$3.35. The business has a 50-day simple moving average of C$2.89 and a two-hundred day simple moving average of C$2.40. 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 has a market cap of C$2.08 billion, a price-to-earnings ratio of -21.57, a price-to-earnings-growth ratio of -3.02 and a beta of 1.60.

New Gold Company Profile

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.