New Gold (TSE:NGD) Trading 3% Higher – Still a Buy?

New Gold Inc. (TSE:NGD) (ARCA:NGD)’s share price shot up 3% on Monday . The company traded as high as C$4.41 and last traded at C$4.40. 789,741 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 1,723,452 shares. The stock had previously closed at C$4.27.

Wall Street Analyst Weigh In

NGD has been the topic of a number of recent analyst reports. Bank of America raised shares of New Gold from an “underperform” rating to a “buy” rating and upped their price target for the stock from C$3.65 to C$5.45 in a research note on Wednesday, March 26th. National Bank Financial raised New Gold to a “strong-buy” rating in a research note on Friday, March 21st. One analyst has rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, New Gold has an average rating of “Buy” and an average price target of C$4.34.

New Gold Price Performance

The company has a current ratio of 1.42, a quick ratio of 1.64 and a debt-to-equity ratio of 45.12. The company has a 50-day moving average of C$4.41. The company has a market capitalization of C$2.34 billion, a price-to-earnings ratio of 116.58, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59.

Insider Buying and Selling at New Gold

In other news, Senior Officer Keith Murphy sold 41,863 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of C$4.29, for a total value of C$179,592.27. 4.92% of the stock is currently owned by insiders.

New Gold Company Profile

New Gold Inc is an intermediate gold mining company. The company has a portfolio of two producing assets: Rainy River Mine and New Afton Mine in Canada. Also, it has interests in the Cerro San Pedro Mine in Mexico. The company derives revenue from the sale of Gold, Copper, and Silver.