New Gold (TSE:NGD) Hits New 52-Week High – Should You Buy?

New Gold Inc. (TSE:NGD) (ARCA:NGD)’s share price reached a new 52-week high on Thursday . The company traded as high as C$13.21 and last traded at C$13.18, with a volume of 937049 shares trading hands. The stock had previously closed at C$12.98.

Analyst Ratings Changes

NGD has been the subject of a number of recent research reports. Canaccord Genuity Group raised their target price on New Gold from C$9.00 to C$12.50 in a research report on Thursday, October 2nd. TD Securities raised shares of New Gold from a “hold” rating to a “buy” rating and upped their price objective for the company from C$7.50 to C$12.00 in a report on Monday, December 1st. Finally, National Bankshares lifted their target price on shares of New Gold from C$11.50 to C$12.50 and gave the stock an “outperform” rating in a research note 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. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$10.61.

New Gold Stock Up 1.8%

The stock has a market cap of C$10.47 billion, a P/E ratio of 41.31, a price-to-earnings-growth ratio of -3.02 and a beta of 1.92. The company has a current ratio of 1.42, a quick ratio of 1.64 and a debt-to-equity ratio of 45.12. The stock’s fifty day moving average price is C$11.05 and its 200 day moving average price is C$9.01.

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

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.