New Gold Inc. (TSE:NGD) Receives Consensus Recommendation of “Buy” from Analysts

New Gold Inc. (TSE:NGD) (ARCA:NGD) has earned a consensus rating of “Buy” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$3.06.

A number of analysts recently issued reports on NGD shares. Bank of America boosted their price target on New Gold from C$1.90 to C$2.30 in a report on Tuesday, April 9th. BMO Capital Markets raised their price target on New Gold from C$3.00 to C$3.50 and gave the company an “outperform” rating in a research note on Friday, May 31st. Scotiabank raised shares of New Gold from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 21st. National Bank Financial raised shares of New Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. Finally, Canaccord Genuity Group upped their price target on shares of New Gold from C$2.75 to C$3.00 in a research report on Tuesday, April 23rd.

New Gold Trading Up 1.9 %

Shares of TSE NGD opened at C$2.74 on Friday. The business’s 50 day moving average price is C$2.66 and its 200-day moving average price is C$2.20. New Gold has a fifty-two week low of C$1.17 and a fifty-two week high of C$3.15. The company has a debt-to-equity ratio of 54.32, a quick ratio of 1.64 and a current ratio of 1.51. The company has a market cap of C$1.89 billion, a price-to-earnings ratio of -19.57, a PEG ratio of -3.02 and a beta of 1.60.

New Gold (TSE:NGD) (ARCA:NGD) last issued its earnings results on Tuesday, April 30th. The company reported C$0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.01 by C$0.02. The firm had revenue of C$258.98 million during the quarter. New Gold had a negative net margin of 9.81% and a negative return on equity of 9.44%. On average, sell-side analysts expect that New Gold will post 0.2190332 earnings per share 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.