New Gold (TSE:NGD) Price Target Raised to C$4.25 at National Bankshares

New Gold (TSE:NGD) (ARCA:NGD) had its price objective upped by National Bankshares from C$4.00 to C$4.25 in a report issued on Thursday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other brokerages also recently commented on NGD. Cibc World Mkts raised New Gold to a strong-buy rating in a research note on Wednesday, July 10th. Scotiabank upgraded New Gold from a hold rating to a strong-buy rating in a report on Tuesday, May 21st. CIBC upgraded New Gold from a neutral rating to an outperform rating and upped their target price for the company from C$2.10 to C$3.00 in a report on Monday, June 3rd. TD Securities upgraded New Gold from a strong sell rating to a hold rating in a report on Tuesday, May 21st. Finally, BMO Capital Markets increased their price target on New Gold from C$4.25 to C$4.50 in a report on Wednesday, July 31st. One investment 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of C$3.61.

New Gold Stock Down 5.0 %

NGD stock opened at C$3.02 on Thursday. The company has a market cap of C$2.08 billion, a PE ratio of -21.57, a price-to-earnings-growth ratio of -3.02 and a beta of 1.60. The business has a 50-day simple moving average of C$2.89 and a 200 day simple moving average of C$2.40. New Gold has a 52 week low of C$1.17 and a 52 week high of C$3.35. 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 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.