New Gold (TSE:NGD) Hits New 1-Year High – Time to Buy?

New Gold Inc. (TSE:NGD) (ARCA:NGD) reached a new 52-week high on Wednesday . The stock traded as high as C$7.35 and last traded at C$7.31, with a volume of 344552 shares changing hands. The stock had previously closed at C$7.11.

Analyst Ratings Changes

Separately, Raymond James Financial upgraded New Gold to a “hold” rating in a research report on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, New Gold presently has an average rating of “Buy” and an average price target of C$5.45.

New Gold Trading Up 3.7%

The company has a market cap of C$4.18 billion, a PE ratio of 207.71, a price-to-earnings-growth 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. The company has a 50-day moving average of C$6.51 and a 200 day moving average of C$5.51.

Insider Activity

In other New Gold news, Senior Officer Sean William Keating sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of C$6.26, for a total transaction of C$156,500.00. 4.92% of the stock is owned by company insiders.

About New Gold

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.