New Gold Inc. (TSE:NGD – Get Free Report) (ARCA:NGD) reached a new 52-week high during trading on Wednesday . The company traded as high as C$3.34 and last traded at C$3.27, with a volume of 2365087 shares traded. The stock had previously closed at C$3.07.
Analysts Set New Price Targets
NGD has been the topic of a number of research reports. Canaccord Genuity Group boosted their target price on shares of New Gold from C$2.75 to C$3.00 in a report on Tuesday, April 23rd. National Bankshares upgraded shares of New Gold from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from C$3.25 to C$3.50 in a report on Tuesday, May 21st. Scotiabank upgraded shares of New Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 21st. TD Securities upgraded shares of New Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 21st. Finally, Cibc World Mkts upgraded shares of New Gold to a “strong-buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$3.06.
Get Our Latest Analysis on New Gold
New Gold Trading Down 0.9 %
New Gold (TSE:NGD – Get Free Report) (ARCA:NGD) last released its quarterly earnings data on Tuesday, April 30th. The company reported C$0.03 earnings per share for the quarter, beating the consensus estimate of C$0.01 by C$0.02. The firm had revenue of C$258.98 million for the quarter. New Gold had a negative net margin of 9.81% and a negative return on equity of 9.44%. Research analysts expect that New Gold Inc. will post 0.2190332 EPS for the current fiscal year.
About New Gold
New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.
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