New Gold Inc. (TSE:NGD) Receives C$3.61 Consensus Price Target from Brokerages

New Gold Inc. (TSE:NGD) (ARCA:NGD) has received a consensus recommendation of “Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$3.61.

Several equities analysts recently commented on the company. National Bank Financial upgraded New Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 17th. TD Securities raised New Gold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 21st. Cibc World Mkts raised New Gold to a “strong-buy” rating in a report on Wednesday, July 10th. National Bankshares upped their price objective on shares of New Gold from C$4.00 to C$4.25 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Canaccord Genuity Group increased their target price on shares of New Gold from C$3.25 to C$4.00 in a research report on Tuesday, July 23rd.

New Gold Stock Up 1.1 %

NGD opened at C$3.66 on Friday. New Gold has a twelve month low of C$1.17 and a twelve month high of C$3.70. The company’s 50-day moving average price is C$3.00 and its two-hundred day moving average price is C$2.54. The stock has a market cap of C$2.89 billion, a price-to-earnings ratio of -91.50, a PEG ratio of -3.02 and a beta of 1.57. The company has a quick ratio of 1.64, a current ratio of 1.50 and a debt-to-equity ratio of 52.45.

Insiders Place Their Bets

In other news, Senior Officer Sean William Keating sold 50,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of C$3.63, for a total transaction of C$181,500.00. 4.92% of the stock is owned by corporate insiders.

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.