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

New Gold (TSE:NGD) (ARCA:NGD) had its target price raised by analysts at Canaccord Genuity Group from C$2.75 to C$3.00 in a report issued on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s target price points to a potential upside of 27.66% from the stock’s current price.

NGD has been the topic of a number of other reports. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of New Gold in a research report on Monday, April 8th. National Bankshares dropped their price objective on shares of New Gold from C$2.25 to C$2.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 20th. Finally, Bank of America raised their target price on shares of New Gold from C$1.90 to C$2.30 in a report on Tuesday, April 9th.

New Gold Stock Up 0.9 %

NGD traded up C$0.02 during trading hours on Tuesday, hitting C$2.35. 932,992 shares of the company’s stock were exchanged, compared to its average volume of 1,351,266. New Gold has a 12-month low of C$1.17 and a 12-month high of C$2.67. The firm has a 50 day moving average of C$2.08 and a 200 day moving average of C$1.86. The firm has a market cap of C$1.61 billion, a P/E ratio of -19.50, a price-to-earnings-growth ratio of -3.02 and a beta of 1.52. The company has a current ratio of 1.54, a quick ratio of 1.64 and a debt-to-equity ratio of 50.84.

New Gold (TSE:NGD) (ARCA:NGD) last announced its quarterly earnings data on Tuesday, February 13th. The company reported C($0.01) EPS for the quarter, missing analysts’ consensus estimates of C$0.03 by C($0.04). New Gold had a negative net margin of 8.20% and a negative return on equity of 7.38%. The firm had revenue of C$271.22 million during the quarter. Analysts predict that New Gold will post 0.1355088 EPS for the current fiscal 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.