New Gold (TSE:NGD) Price Target Raised to C$9.50

New Gold (TSE:NGD) (ARCA:NGD) had its price objective lifted by National Bankshares from C$8.00 to C$9.50 in a research report released on Tuesday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Separately, Raymond James Financial raised New Gold to a “hold” rating in a report on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$7.48.

New Gold Price Performance

Shares of NGD stock opened at C$9.04 on Tuesday. The company has a quick ratio of 1.64, a current ratio of 1.42 and a debt-to-equity ratio of 45.12. New Gold has a twelve month low of C$3.43 and a twelve month high of C$9.10. The company has a market cap of C$7.16 billion, a P/E ratio of 45.20, a P/E/G ratio of -3.02 and a beta of 1.21. The business has a fifty day simple moving average of C$7.02 and a 200 day simple moving average of C$5.94.

New Gold Company Profile

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.