Brokerages Set New Gold Inc. (TSE:NGD) Price Target at C$4.34

New Gold Inc. (TSE:NGD) (ARCA:NGD) has been given a consensus rating of “Buy” by the nine analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, five have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$4.34.

NGD has been the subject of several research reports. Bank of America raised shares of New Gold from an “underperform” rating to a “buy” rating and boosted their price objective for the company from C$3.65 to C$5.45 in a research note on Wednesday, March 26th. National Bank Financial raised shares of New Gold to a “strong-buy” rating in a research report on Friday, March 21st.

Insider Transactions at New Gold

In other New Gold news, Senior Officer Keith Murphy sold 41,863 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of C$4.29, for a total value of C$179,592.27. Corporate insiders own 4.92% of the company’s stock.

New Gold Trading Down 2.5 %

Shares of NGD stock opened at C$4.70 on Friday. New Gold has a 1-year low of C$2.38 and a 1-year high of C$5.39. The firm’s 50-day simple moving average is C$4.58 and its 200-day simple moving average is C$4.16. The firm has a market cap of C$2.59 billion, a P/E ratio of 128.62, a PEG ratio of -3.02 and a beta of 1.59. The company has a debt-to-equity ratio of 45.12, a current ratio of 1.42 and a quick ratio of 1.64.

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.