New Gold (TSE:NGD) Price Target Raised to C$4.00

New Gold (TSE:NGD) (ARCA:NGD) had its target price upped by Canaccord Genuity Group from C$3.25 to C$4.00 in a report issued on Tuesday morning, BayStreet.CA reports.

Several other equities research analysts also recently commented on the stock. National Bankshares upgraded shares of New Gold from a sector perform rating to an outperform rating and boosted their target price for the company from C$3.25 to C$3.50 in a research note on Tuesday, May 21st. Cibc World Mkts upgraded shares of New Gold to a strong-buy rating in a research note on Wednesday, July 10th. BMO Capital Markets boosted their target price on shares of New Gold from C$3.00 to C$3.50 and gave the company an outperform rating in a research note on Friday, May 31st. National Bank Financial upgraded shares of New Gold from a hold rating to a strong-buy rating in a research note on Friday, May 17th. Finally, TD Securities upgraded shares of New Gold from a strong sell rating to a hold rating in a research note on Tuesday, May 21st. One research analyst has rated the stock with a hold rating, three have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, New Gold currently has an average rating of Buy and an average price target of C$3.26.

New Gold Stock Down 1.1 %

NGD opened at C$2.82 on Tuesday. New Gold has a fifty-two week low of C$1.17 and a fifty-two week high of C$3.35. 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 firm’s fifty day moving average price is C$2.87 and its two-hundred day moving average price is C$2.35. The company has a market capitalization of C$1.95 billion, a P/E ratio of -20.14, a P/E/G ratio of -3.02 and a beta of 1.60.

New Gold (TSE:NGD) (ARCA:NGD) last posted its quarterly earnings results 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 firm had revenue of C$258.98 million for the quarter. On average, analysts anticipate that New Gold will post 0.2190332 EPS for the current 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.