Analysts Set New Gold Inc. (TSE:NGD) Target Price at C$3.71

New Gold Inc. (TSE:NGD) (ARCA:NGD) has been given a consensus rating of “Buy” by the nine research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is C$4.34.

Several research firms have recently commented on NGD. Bank of America raised shares of New Gold from an “underperform” rating to a “buy” rating and boosted their target price for the stock from C$3.65 to C$5.45 in a research report on Wednesday. National Bank Financial raised New Gold to a “strong-buy” rating in a report on Friday, March 21st.

New Gold Stock Performance

TSE NGD opened at C$5.17 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 1.64 and a debt-to-equity ratio of 45.12. The company has a fifty day simple moving average of C$4.29 and a 200 day simple moving average of C$4.00. New Gold has a 12-month low of C$2.26 and a 12-month high of C$5.18. The company has a market cap of C$2.84 billion, a P/E ratio of 141.48, a PEG ratio of -3.02 and a beta of 1.59.

Insider Activity

In related news, Senior Officer Keith Murphy sold 41,863 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of C$4.29, for a total transaction of C$179,592.27. Corporate insiders own 4.92% of the company’s stock.

About New Gold

New Gold Inc is an intermediate gold mining company. The company has a portfolio of two producing assets: Rainy River Mine and New Afton Mine in Canada. Also, it has interests in the Cerro San Pedro Mine in Mexico. The company derives revenue from the sale of Gold, Copper, and Silver.