New Gold (TSE:NGD) Share Price Crosses Above 50-Day Moving Average of $2.66

New Gold Inc. (TSE:NGD) (ARCA:NGD) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$2.66 and traded as high as C$2.73. New Gold shares last traded at C$2.69, with a volume of 684,754 shares.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Scotiabank upgraded shares of New Gold from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 21st. Cibc World Mkts raised shares of New Gold to a “strong-buy” rating in a report on Monday, June 3rd. Bank of America increased their price target on shares of New Gold from C$1.90 to C$2.30 in a report on Tuesday, April 9th. National Bank Financial raised shares of New Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, May 17th. Finally, CIBC raised shares of New Gold from a “neutral” rating to an “outperform” rating and increased their target price for the company from C$2.10 to C$3.00 in a report on Monday, June 3rd. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$3.06.

New Gold Stock Performance

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 company has a market capitalization of C$1.86 billion, a PE ratio of -19.29, a PEG ratio of -3.02 and a beta of 1.60. The stock’s fifty day simple moving average is C$2.67 and its 200-day simple moving average is C$2.20.

New Gold (TSE:NGD) (ARCA:NGD) last issued its quarterly earnings data on Tuesday, April 30th. The company reported C$0.03 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.01 by C$0.02. New Gold had a negative net margin of 9.81% and a negative return on equity of 9.44%. The business had revenue of C$258.98 million during the quarter. On average, research analysts predict that New Gold Inc. will post 0.2190332 earnings per share for the current fiscal 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.