New Gold (TSE:NGD) Price Target Raised to C$3.00

New Gold (TSE:NGD) (ARCA:NGD) had its price target raised by Canaccord Genuity Group from C$2.75 to C$3.00 in a research report issued on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s target price would suggest a potential upside of 27.12% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Bank of America lifted their price target on shares of New Gold from C$1.90 to C$2.30 in a research report on Tuesday, April 9th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of New Gold in a report on Monday, April 8th. Finally, National Bankshares cut their price target on New Gold from C$2.25 to C$2.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 20th.

New Gold Price Performance

NGD stock opened at C$2.36 on Tuesday. The company has a debt-to-equity ratio of 50.84, a current ratio of 1.54 and a quick ratio of 1.64. The company’s 50-day moving average is C$2.10 and its 200-day moving average is C$1.87. The stock has a market capitalization of C$1.62 billion, a PE ratio of -19.67, a price-to-earnings-growth ratio of -3.02 and a beta of 1.52. New Gold has a 1 year low of C$1.17 and a 1 year high of C$2.67.

New Gold (TSE:NGD) (ARCA:NGD) last posted its quarterly earnings results on Tuesday, February 13th. The company reported C($0.01) earnings per share 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 for the quarter. Equities research analysts expect that New Gold will post 0.1355088 EPS 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.