Bank of America Increases New Gold (TSE:NGD) Price Target to C$2.30

New Gold (TSE:NGD) (ARCA:NGD) had its price target lifted by stock analysts at Bank of America from C$1.90 to C$2.30 in a research note issued to investors on Tuesday, BayStreet.CA reports. Bank of America‘s price objective indicates a potential downside of 7.26% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. National Bankshares lowered their target price on New Gold from C$2.25 to C$2.00 and set a “sector perform” rating for the company in a report on Tuesday, February 20th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of New Gold in a report on Wednesday, January 3rd.

New Gold Price Performance

Shares of NGD opened at C$2.48 on Tuesday. New Gold has a 12-month low of C$1.17 and a 12-month high of C$2.55. The business has a 50-day simple moving average of C$1.97 and a two-hundred day simple moving average of C$1.80. The company has a quick ratio of 1.64, a current ratio of 1.54 and a debt-to-equity ratio of 50.84. The stock has a market cap of C$1.70 billion, a PE ratio of -20.67, a PEG ratio of -3.02 and a beta of 1.52.

New Gold (TSE:NGD) (ARCA:NGD) last issued its earnings results on Tuesday, February 13th. The company reported C($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.03 by C($0.04). New Gold had a negative return on equity of 7.38% and a negative net margin of 8.20%. The firm had revenue of C$271.22 million during the quarter. Analysts anticipate that New Gold will post 0.1355088 earnings per share for the current fiscal year.

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.