New Gold (TSE:NGD) Trading 7.1% Higher

New Gold Inc. (TSE:NGDGet Rating) (ARCA:NGD)’s share price traded up 7.1% during trading on Thursday . The company traded as high as C$1.06 and last traded at C$1.05. 637,179 shares changed hands during trading, a decline of 60% from the average session volume of 1,584,069 shares. The stock had previously closed at C$0.98.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. National Bankshares reduced their target price on New Gold from C$1.50 to C$1.20 and set a “sector perform” rating for the company in a report on Thursday, July 21st. Canaccord Genuity Group raised New Gold from a “hold” rating to a “buy” rating and increased their target price for the company from C$2.25 to C$3.00 in a report on Friday, April 22nd. Cormark dropped their price target on New Gold from C$2.25 to C$1.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 13th. CSFB dropped their price target on New Gold from C$1.40 to C$1.10 in a research report on Tuesday, July 12th. Finally, Credit Suisse Group dropped their price target on New Gold from C$1.40 to C$1.10 in a research report on Tuesday, July 12th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$1.90.

New Gold Stock Down 0.9 %

The company has a market capitalization of C$716.21 million and a PE ratio of 4.57. The company has a quick ratio of 3.64, a current ratio of 4.37 and a debt-to-equity ratio of 54.59. The firm has a 50-day moving average of C$1.34 and a two-hundred day moving average of C$1.84.

New Gold Company Profile

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New Gold Inc, an intermediate gold mining company, engages in the exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interests in the Rainy River mine located in Ontario, Canada; and New Afton mine situated in British Columbia, Canada.

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