New Gold (TSE:NGD) Hits New 12-Month High at $3.34

New Gold Inc. (TSE:NGD) (ARCA:NGD)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$3.34 and last traded at C$3.27, with a volume of 2365087 shares traded. The stock had previously closed at C$3.07.

Wall Street Analyst Weigh In

NGD has been the subject of a number of recent analyst reports. TD Securities upgraded shares of New Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 21st. BMO Capital Markets upped their price target on shares of New Gold from C$3.00 to C$3.50 and gave the company an “outperform” rating in a report on Friday, May 31st. Scotiabank upgraded shares of New Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 21st. National Bankshares upgraded shares of New Gold from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$3.25 to C$3.50 in a report on Tuesday, May 21st. Finally, Cibc World Mkts upgraded shares of New Gold to a “strong-buy” rating in a research note 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$3.06.

New Gold Trading Up 7.5 %

The stock has a market cap of C$2.28 billion, a P/E ratio of -23.43, a PEG ratio of -3.02 and a beta of 1.60. The company has a debt-to-equity ratio of 54.32, a current ratio of 1.51 and a quick ratio of 1.64. The business’s 50 day simple moving average is C$2.73 and its 200 day simple moving average is C$2.25.

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, topping analysts’ consensus estimates of C$0.01 by C$0.02. The firm 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%. On average, analysts expect 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.