New Gold (TSE:NGD) Sets New 52-Week High – Here’s What Happened

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) reached a new 52-week high during trading on Monday . The stock traded as high as C$10.84 and last traded at C$10.27, with a volume of 3527670 shares changing hands. The stock had previously closed at C$10.33.

Analyst Ratings Changes

Several analysts have weighed in on NGD shares. National Bankshares boosted their price target on shares of New Gold from C$11.50 to C$12.50 and gave the stock an “outperform” rating in a research note on Thursday. TD Securities lifted their price objective on New Gold from C$7.00 to C$7.50 and gave the stock a “hold” rating in a report on Thursday. Finally, Canaccord Genuity Group increased their target price on New Gold from C$9.00 to C$12.50 in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$9.49.

New Gold Trading Down 1.8%

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 firm’s 50 day moving average price is C$9.27 and its 200 day moving average price is C$7.24. The stock has a market capitalization of C$8.03 billion, a P/E ratio of 31.69, a P/E/G ratio of -3.02 and a beta of 1.93.

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.