New Gold (TSE:NGD) Earns “Underperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their underperform rating on shares of New Gold (TSE:NGD) (ARCA:NGD) in a report issued on Tuesday morning, BayStreet.CA reports. Royal Bank of Canada currently has a C$0.65 price objective on the stock.

A number of other research firms have also recently commented on NGD. National Bank Financial decreased their price target on New Gold from C$1.50 to C$1.30 and set a sector perform rating on the stock in a report on Monday, November 18th. BMO Capital Markets decreased their price target on New Gold from C$2.00 to C$1.50 in a report on Wednesday, December 18th. Finally, Canaccord Genuity raised their price target on New Gold from C$1.40 to C$1.60 in a report on Wednesday, January 15th.

TSE:NGD opened at C$1.00 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.80 and a debt-to-equity ratio of 79.49. The business’s 50-day simple moving average is C$1.20 and its two-hundred day simple moving average is C$1.33. The stock has a market cap of $679.63 million and a PE ratio of -0.73. New Gold has a 52 week low of C$0.82 and a 52 week high of C$2.03.

About New Gold

New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the Rainy River project located in Ontario, Canada; the New Afton project located near Kamloops, British Columbia, Canada; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

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