New Gold (TSE:NGD) Price Target Raised to C$4.50

New Gold (TSE:NGD) (ARCA:NGD) had its target price increased by BMO Capital Markets from C$4.25 to C$4.50 in a report published on Wednesday morning, BayStreet.CA reports.

NGD has been the subject of a number of other research reports. TD Securities upgraded New Gold from a strong sell rating to a hold rating in a report on Tuesday, May 21st. National Bank Financial upgraded New Gold from a hold rating to a strong-buy rating in a research note on Friday, May 17th. Scotiabank raised New Gold from a hold rating to a strong-buy rating in a research report on Tuesday, May 21st. CIBC upgraded shares of New Gold from a neutral rating to an outperform rating and boosted their target price for the stock from C$2.10 to C$3.00 in a report on Monday, June 3rd. Finally, Canaccord Genuity Group raised their price target on shares of New Gold from C$3.25 to C$4.00 in a report on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Buy and an average target price of C$3.61.

New Gold Stock Down 5.0 %

Shares of New Gold stock opened at C$3.02 on Wednesday. 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 stock has a market cap of C$2.08 billion, a price-to-earnings ratio of -21.57, a PEG ratio of -3.02 and a beta of 1.60. The firm’s 50-day moving average is C$2.89 and its two-hundred day moving average is C$2.39. New Gold has a 1 year low of C$1.17 and a 1 year high of C$3.35.

New Gold (TSE:NGD) (ARCA:NGD) last announced its quarterly earnings results on Tuesday, April 30th. The company reported C$0.03 earnings per share for the quarter, topping the consensus estimate 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%. As a group, research analysts expect that New Gold 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.