New Gold Inc. (TSE:NGD) Given Average Rating of “Buy” by Analysts

New Gold Inc. (TSE:NGD) (ARCA:NGD) has been assigned a consensus rating of “Buy” from the seven ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is C$3.26.

A number of research firms have recently commented on NGD. Cibc World Mkts raised shares of New Gold to a “strong-buy” rating in a research note on Wednesday, July 10th. National Bankshares raised New Gold from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$3.25 to C$3.50 in a research report on Tuesday, May 21st. Canaccord Genuity Group lifted their target price on New Gold from C$3.25 to C$4.00 in a report on Tuesday, July 23rd. National Bank Financial raised New Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 17th. Finally, CIBC raised shares of New Gold from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from C$2.10 to C$3.00 in a research report on Monday, June 3rd.

New Gold Stock Performance

TSE NGD opened at C$2.86 on Tuesday. The company has a market capitalization of C$1.97 billion, a price-to-earnings ratio of -20.43, a PEG ratio of -3.02 and a beta of 1.60. New Gold has a twelve month low of C$1.17 and a twelve month high of C$3.35. The stock has a fifty day simple moving average of C$2.87 and a 200 day simple moving average of C$2.37. The company has a quick ratio of 1.64, a current ratio of 1.51 and a debt-to-equity ratio of 54.32.

New Gold (TSE:NGD) (ARCA:NGD) last issued its quarterly earnings results 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. New Gold had a negative return on equity of 9.44% and a negative net margin of 9.81%. The company had revenue of C$258.98 million during the quarter. Sell-side analysts expect that New Gold will post 0.2190332 EPS for the current 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.