New Gold Inc. (TSE:NGD) Receives Consensus Recommendation of “Buy” from Analysts

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) have received a consensus recommendation of “Buy” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$3.71.

Separately, National Bank Financial raised New Gold to a “strong-buy” rating in a research report on Friday.

New Gold Stock Performance

Shares of TSE NGD opened at C$4.63 on Tuesday. The company has a 50 day simple moving average of C$4.22. The firm has a market cap of C$2.55 billion, a PE ratio of 126.70, a P/E/G ratio of -3.02 and a beta of 1.59. New Gold has a 52-week low of C$2.12 and a 52-week high of C$4.96. The company has a debt-to-equity ratio of 45.12, a quick ratio of 1.64 and a current ratio of 1.42.

Insider Buying and Selling at New Gold

In other New Gold news, Senior Officer Keith Murphy sold 41,863 shares of New Gold stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of C$4.29, for a total value of C$179,592.27. Insiders own 4.92% of the company’s stock.

About New Gold

New Gold Inc is an intermediate gold mining company. The company has a portfolio of two producing assets: Rainy River Mine and New Afton Mine in Canada. Also, it has interests in the Cerro San Pedro Mine in Mexico. The company derives revenue from the sale of Gold, Copper, and Silver.