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

New Gold Inc. (TSE:NGD) (ARCA:NGD) has received a consensus rating of “Buy” from the eight analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is C$3.71.

Several brokerages have recently issued reports on NGD. Cibc World Mkts raised New Gold to a “strong-buy” rating in a report on Wednesday, July 10th. BMO Capital Markets boosted their price objective on New Gold from C$4.25 to C$4.50 in a report on Wednesday, July 31st. Canaccord Genuity Group lifted their price target 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. Finally, National Bankshares lifted their price target on New Gold from C$4.00 to C$4.25 and gave the company an “outperform” rating in a research note on Thursday, August 1st.

New Gold Stock Performance

Shares of NGD opened at C$3.80 on Friday. The stock has a market cap of C$3.00 billion, a P/E ratio of -95.00, a P/E/G ratio of -3.02 and a beta of 1.59. The stock has a 50-day moving average of C$3.53 and a two-hundred day moving average of C$2.96. The company has a debt-to-equity ratio of 52.45, a quick ratio of 1.64 and a current ratio of 1.50. New Gold has a one year low of C$1.31 and a one year high of C$4.37.

New Gold (TSE:NGD) (ARCA:NGD) last issued its quarterly earnings data on Tuesday, July 30th. The company reported C$0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.02 by C$0.01. The business had revenue of C$298.55 million during the quarter. New Gold had a negative return on equity of 2.23% and a negative net margin of 2.53%.

Insiders Place Their Bets

In other New Gold news, Senior Officer Sean William Keating sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of C$3.63, for a total transaction of C$181,500.00. 4.92% of the stock is owned by company insiders.

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.