New Gold (TSE:NGD) Sets New 12-Month High – Here’s What Happened

New Gold Inc. (TSE:NGD) (ARCA:NGD)’s share price reached a new 52-week high on Thursday . The company traded as high as C$13.21 and last traded at C$13.18, with a volume of 937049 shares. The stock had previously closed at C$12.98.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. TD Securities upgraded shares of New Gold from a “hold” rating to a “buy” rating and boosted their price target for the company from C$7.50 to C$12.00 in a research report on Monday, December 1st. National Bankshares boosted their target price on New Gold from C$11.50 to C$12.50 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group upped their target price on New Gold from C$9.00 to C$12.50 in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$10.61.

New Gold Price Performance

The business’s fifty day moving average price is C$11.18 and its 200-day moving average price is C$9.09. The company has a market capitalization of C$11.03 billion, a P/E ratio of 43.53, a P/E/G ratio of -3.02 and a beta of 1.92. The company has a current ratio of 1.42, a quick ratio of 1.64 and a debt-to-equity ratio of 45.12.

New Gold (TSE:NGD) (ARCA:NGD) last released its quarterly earnings results on Tuesday, October 28th. The company reported C$0.25 earnings per share for the quarter. New Gold had a return on equity of 2.31% and a net margin of 2.33%.The business had revenue of C$643.99 million for the quarter.

New Gold Company Profile

New Gold Inc is an intermediate gold mining company. The company has a portfolio of two producing assets: Rainy River Mine and New Afton Mine in Canada. Also, it has interests in the Cerro San Pedro Mine in Mexico. The company derives revenue from the sale of Gold, Copper, and Silver.