New Gold (TSE:NGD) Sets New 12-Month High – What’s Next?

New Gold Inc. (TSE:NGD) (ARCA:NGD)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$5.07 and last traded at C$5.03, with a volume of 300845 shares changing hands. The stock had previously closed at C$4.81.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NGD shares. National Bank Financial raised New Gold to a “strong-buy” rating in a research note on Friday, March 21st. Bank of America upgraded New Gold from an “underperform” rating to a “buy” rating and raised their price target for the company from C$3.65 to C$5.45 in a research report on Wednesday. One research analyst has rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$4.34.

New Gold Price Performance

The company has a 50 day moving average of C$4.29 and a 200 day moving average of C$4.00. The company has a quick ratio of 1.64, a current ratio of 1.42 and a debt-to-equity ratio of 45.12. The stock has a market capitalization of C$2.84 billion, a price-to-earnings ratio of 141.48, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59.

Insider Activity at New Gold

In other New Gold news, Senior Officer Keith Murphy sold 41,863 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of C$4.29, for a total transaction of C$179,592.27. 4.92% of the stock is owned by insiders.

New Gold Company Profile

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.