New Gold (TSE:NGD) Reaches New 1-Year High at $4.34

New Gold Inc. (TSE:NGD) (ARCA:NGD)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$4.34 and last traded at C$4.32, with a volume of 682177 shares trading hands. The stock had previously closed at C$4.20.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group lifted their price objective on New Gold from C$4.00 to C$4.50 and gave the company a “buy” rating in a research note on Thursday, August 22nd. CIBC upgraded New Gold from a “neutral” rating to an “outperform” rating and raised their price target for the company from C$2.10 to C$3.00 in a research report on Monday, June 3rd. Cibc World Mkts upgraded New Gold to a “strong-buy” rating in a report on Wednesday, July 10th. National Bankshares raised their price objective on New Gold from C$4.00 to C$4.25 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, BMO Capital Markets upped their target price on New Gold from C$4.25 to C$4.50 in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$3.71.

New Gold Stock Up 2.1 %

The company has a quick ratio of 1.64, a current ratio of 1.50 and a debt-to-equity ratio of 52.45. The company has a market cap of C$3.39 billion, a PE ratio of -106.50, a PEG ratio of -3.02 and a beta of 1.57. The company’s fifty day moving average is C$3.37 and its 200-day moving average is C$2.87.

New Gold (TSE:NGD) (ARCA:NGD) last released its quarterly earnings results on Tuesday, July 30th. The company reported C$0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.02 by C$0.01. New Gold had a negative return on equity of 2.23% and a negative net margin of 2.53%. The firm had revenue of C$298.55 million for the quarter. On average, analysts predict that New Gold Inc. will post 0.3732394 EPS for the current year.

Insider Transactions at New Gold

In related news, Senior Officer Sean William Keating sold 45,833 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of C$4.17, for a total transaction of C$191,123.61. Insiders own 4.92% of the company’s stock.

New Gold Company Profile

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.