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

New Gold (TSE:NGD) (ARCA:NGD) had its target price upped by Canaccord Genuity Group from C$2.75 to C$3.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s price objective suggests a potential upside of 27.66% from the company’s current price.

A number of other brokerages also recently issued reports on NGD. National Bankshares reduced their price target on New Gold from C$2.25 to C$2.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 20th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of New Gold in a report on Monday, April 8th. Finally, Bank of America boosted their price target on New Gold from C$1.90 to C$2.30 in a report on Tuesday, April 9th.

New Gold Trading Up 0.9 %

Shares of NGD traded up C$0.02 during trading hours on Tuesday, hitting C$2.35. The company had a trading volume of 932,992 shares, compared to its average volume of 1,351,266. The firm has a market cap of C$1.61 billion, a P/E ratio of -19.50, a P/E/G ratio of -3.02 and a beta of 1.52. The stock’s 50 day moving average price is C$2.08 and its 200 day moving average price is C$1.86. The company has a quick ratio of 1.64, a current ratio of 1.54 and a debt-to-equity ratio of 50.84. New Gold has a 52-week low of C$1.17 and a 52-week high of C$2.67.

New Gold (TSE:NGD) (ARCA:NGD) last released its quarterly earnings data on Tuesday, February 13th. The company reported C($0.01) EPS for the quarter, missing the consensus estimate 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 company had revenue of C$271.22 million during the quarter. On average, research analysts predict that New Gold will post 0.1355088 EPS for the current year.

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.