New Gold (TSE:NGD) Stock Price Passes Above Fifty Day Moving Average of $1.45

New Gold Inc. (TSE:NGDGet Rating) (ARCA:NGD)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$1.45 and traded as high as C$1.54. New Gold shares last traded at C$1.52, with a volume of 1,369,509 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NGD shares. Canaccord Genuity Group cut their price target on New Gold from C$1.75 to C$1.60 in a report on Thursday, October 20th. Royal Bank of Canada upgraded New Gold to a “buy” rating and set a C$1.25 price target for the company in a report on Monday, October 3rd. National Bankshares raised their price target on New Gold from C$1.60 to C$1.75 and gave the company a “sector perform” rating in a report on Friday, January 13th. TD Securities cut New Gold to a “sell” rating and set a C$0.85 price target for the company. in a report on Tuesday, December 6th. Finally, Cormark raised their price target on New Gold from C$1.00 to C$1.30 in a report on Monday, October 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$1.36.

New Gold Price Performance

The firm has a market capitalization of C$1.04 billion and a P/E ratio of 7.24. The firm has a 50 day moving average price of C$1.45 and a 200-day moving average price of C$1.22. The company has a current ratio of 2.25, a quick ratio of 1.64 and a debt-to-equity ratio of 39.81.

New Gold (TSE:NGDGet Rating) (ARCA:NGD) last posted its quarterly earnings data on Thursday, November 3rd. The company reported C($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.02) by C($0.01). The firm had revenue of C$197.29 million during the quarter. On average, analysts expect that New Gold Inc. will post 0.12 earnings per share for the current year.

About New Gold

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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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