Shares of New Gold Inc. (TSE:NGD - Get Free Report) ARCA: NGD traded down 4.5% during trading on Tuesday . The stock traded as low as C$4.82 and last traded at C$4.86. 1,624,942 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 1,806,369 shares. The stock had previously closed at C$5.09.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Bank of America raised shares of New Gold from an "underperform" rating to a "buy" rating and lifted their target price for the company from C$3.65 to C$5.45 in a report on Wednesday, March 26th. National Bank Financial raised New Gold to a "strong-buy" rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of C$4.34.
Get Our Latest Report on New Gold
New Gold Stock Down 3.1 %
The company has a debt-to-equity ratio of 45.12, a current ratio of 1.42 and a quick ratio of 1.64. The company has a market capitalization of C$2.57 billion, a price-to-earnings ratio of 127.80, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59. The firm's 50-day simple moving average is C$4.57 and its two-hundred day simple moving average is C$4.15.
Insider Activity 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 shares were sold at an average price of C$4.29, for a total value of C$179,592.27. 4.92% of the stock is currently owned by company insiders.
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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