New Gold (TSE:NGD) Hits New 12-Month High at $3.42

New Gold Inc. (TSE:NGD) (ARCA:NGD) shares hit a new 52-week high on Friday . The stock traded as high as C$3.42 and last traded at C$3.42, with a volume of 239859 shares. The stock had previously closed at C$3.30.

Analyst Ratings Changes

Several equities analysts have commented on NGD shares. Canaccord Genuity Group raised their price target on shares of New Gold from C$3.25 to C$4.00 in a research report on Tuesday, July 23rd. National Bank Financial upgraded shares of New Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, May 17th. Cibc World Mkts raised New Gold to a “strong-buy” rating in a report on Wednesday, July 10th. CIBC raised New Gold from a “neutral” rating to an “outperform” rating and upped their price target for the company from C$2.10 to C$3.00 in a report on Monday, June 3rd. Finally, Scotiabank raised shares of New Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. One analyst has rated the stock with a hold rating, three have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$3.61.

New Gold Stock Performance

The company has a debt-to-equity ratio of 54.32, a quick ratio of 1.64 and a current ratio of 1.51. The stock has a market cap of C$2.42 billion, a PE ratio of -25.07, a P/E/G ratio of -3.02 and a beta of 1.60. The firm’s 50-day moving average is C$2.95 and its 200 day moving average is C$2.49.

New Gold Company Profile

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.