New Gold (NGD) Shares Up -4%

New Gold Inc. (TSE:NGD) (ARCA:NGD)’s share price traded up 4% on Wednesday . The stock traded as high as C$3.99 and last traded at C$3.87. 1,367,415 shares changed hands during trading, an increase of 32% from the average session volume of 1,034,182 shares. The stock had previously closed at C$4.03.

Several equities analysts have weighed in on the company. Canaccord Genuity raised their target price on New Gold from C$4.25 to C$4.75 in a report on Friday, September 29th. Scotiabank upgraded New Gold to a “sector perform” rating and set a C$5.00 target price on the stock in a report on Friday, September 29th. Desjardins restated a “sell” rating on shares of New Gold in a report on Monday, December 11th. Laurentian Bank of Canada restated a “buy” rating and set a C$4.75 target price on shares of New Gold in a report on Tuesday, December 19th. Finally, Laurentian set a C$4.75 target price on New Gold and gave the company a “buy” rating in a report on Tuesday, December 19th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of C$4.95.

The firm has a market capitalization of $2,290.00, a P/E ratio of 33.17 and a beta of -0.28.

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New Gold Company Profile

New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.

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