Bank of America upgraded shares of New Gold (TSE:NGD - Free Report) ARCA: NGD from an underperform rating to a buy rating in a report released on Wednesday morning,BayStreet.CA reports. They currently have C$5.45 target price on the stock, up from their previous target price of C$3.65.
Separately, National Bank Financial raised shares of New Gold to a "strong-buy" rating in a research note on Friday, March 21st. One research analyst has rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of C$4.34.
Read Our Latest Analysis on New Gold
New Gold Trading Up 0.2 %
Shares of New Gold stock traded up C$0.01 during trading on Wednesday, reaching C$5.18. The company's stock had a trading volume of 2,888,882 shares, compared to its average volume of 1,672,065. The stock has a 50-day moving average of C$4.31. The firm has a market capitalization of C$2.85 billion, a PE ratio of 141.76, a P/E/G ratio of -3.02 and a beta of 1.59. The company has a debt-to-equity ratio of 45.12, a current ratio of 1.42 and a quick ratio of 1.64. New Gold has a one year low of C$2.26 and a one year high of C$5.39.
Insider Buying and Selling at New Gold
In related news, Senior Officer Keith Murphy sold 41,863 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of C$4.29, for a total transaction of C$179,592.27. Insiders own 4.92% of the company's stock.
New Gold Company Profile
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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.
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