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

New Gold Inc. (TSE:NGD) (ARCA:NGD)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as C$12.06 and last traded at C$12.00, with a volume of 1530590 shares. The stock had previously closed at C$10.78.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NGD. Canaccord Genuity Group lifted their price objective on New Gold from C$9.00 to C$12.50 in a research report on Thursday, October 2nd. TD Securities upgraded shares of New Gold from a “hold” rating to a “buy” rating and upped their price target for the stock from C$7.50 to C$12.00 in a research report on Monday, December 1st. Finally, National Bankshares raised their price objective on shares of New Gold from C$11.50 to C$12.50 and gave the company an “outperform” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$10.61.

New Gold Stock Up 9.1%

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 company has a 50 day simple moving average of C$10.08 and a two-hundred day simple moving average of C$8.22. The company has a market capitalization of C$9.31 billion, a P/E ratio of 36.75, a PEG ratio of -3.02 and a beta of 2.02.

New Gold (TSE:NGD) (ARCA:NGD) last released its earnings results on Tuesday, October 28th. The company reported C$0.25 earnings per share (EPS) for the quarter. The firm had revenue of C$643.99 million during the quarter. New Gold had a net margin of 2.33% and a return on equity of 2.31%.

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.