New Gold (TSE:NGD) Upgraded at Scotiabank

Scotiabank upgraded shares of New Gold (TSE:NGD) (ARCA:NGD) from a hold rating to a strong-buy rating in a research report released on Tuesday, Zacks.com reports.

Other analysts have also issued research reports about the stock. National Bankshares upgraded shares of New Gold from a sector perform rating to an outperform rating and boosted their price target for the company from C$3.25 to C$3.50 in a research note on Tuesday. National Bank Financial raised shares of New Gold from a hold rating to a strong-buy rating in a report on Friday, May 17th. Bank of America lifted their price objective on shares of New Gold from C$1.90 to C$2.30 in a report on Tuesday, April 9th. Finally, Canaccord Genuity Group lifted their price objective on shares of New Gold from C$2.75 to C$3.00 in a report on Tuesday, April 23rd. One analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, New Gold presently has an average rating of Buy and a consensus price target of C$2.76.

New Gold Stock Performance

TSE:NGD opened at C$2.59 on Tuesday. The company has a fifty day moving average of C$2.45 and a 200-day moving average of C$2.03. The firm has a market capitalization of C$1.79 billion, a P/E ratio of -18.50, a P/E/G 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. New Gold has a twelve month low of C$1.17 and a twelve month high of C$3.00.

New Gold (TSE:NGD) (ARCA:NGD) last announced its quarterly earnings results on Tuesday, April 30th. The company reported C$0.03 EPS for the quarter, beating analysts’ consensus estimates of C$0.01 by C$0.02. The business 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, sell-side analysts anticipate that New Gold will post 0.2190332 EPS for the current year.

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.