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

New Gold (TSE:NGD) (ARCA:NGD) had its price target hoisted by Canaccord Genuity Group from C$3.25 to C$4.00 in a research note released on Tuesday, BayStreet.CA reports.

NGD has been the subject of several other research reports. Scotiabank upgraded shares of New Gold from a hold rating to a strong-buy rating in a research report on Tuesday, May 21st. National Bankshares upgraded shares of New Gold from a sector perform rating to an outperform rating and upped their price target for the stock from C$3.25 to C$3.50 in a research report on Tuesday, May 21st. BMO Capital Markets upped their price target on shares of New Gold from C$3.00 to C$3.50 and gave the stock an outperform rating in a research report on Friday, May 31st. TD Securities upgraded shares of New Gold from a strong sell rating to a hold rating in a research report on Tuesday, May 21st. Finally, National Bank Financial upgraded shares of New Gold from a hold rating to a strong-buy rating in a research report on Friday, May 17th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of C$3.26.

New Gold Price Performance

TSE:NGD opened at C$2.82 on Tuesday. The firm’s fifty day moving average is C$2.87 and its two-hundred day moving average is C$2.35. The company has a debt-to-equity ratio of 54.32, a quick ratio of 1.64 and a current ratio of 1.51. New Gold has a one year low of C$1.17 and a one year high of C$3.35. The firm has a market cap of C$1.95 billion, a price-to-earnings ratio of -20.14, a PEG ratio of -3.02 and a beta of 1.60.

New Gold (TSE:NGD) (ARCA:NGD) last posted its earnings results on Tuesday, April 30th. The company reported C$0.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of C$258.98 million for the quarter. Research analysts expect 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.