New Gold (TSE:NGD) Hits New 1-Year High – Time to Buy?

New Gold Inc. (TSE:NGD) (ARCA:NGD)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as C$6.47 and last traded at C$6.38, with a volume of 325768 shares changing hands. The stock had previously closed at C$6.10.

Wall Street Analyst Weigh In

Several research firms have commented on NGD. Bank of America raised New Gold from an “underperform” rating to a “buy” rating and raised their price objective for the company from C$3.65 to C$5.45 in a research report on Wednesday, March 26th. National Bank Financial raised New Gold to a “strong-buy” rating in a research report on Friday, March 21st. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$4.34.

New Gold Stock Up 3.1%

The company has a market capitalization of C$3.46 billion, a PE ratio of 172.13, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59. The company has a debt-to-equity ratio of 45.12, a current ratio of 1.42 and a quick ratio of 1.64. The firm has a 50-day simple moving average of C$5.21 and a 200 day simple moving average of C$4.45.

Insider Transactions at New Gold

In related news, Senior Officer Keith Murphy sold 41,863 shares of New Gold stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of C$4.29, for a total value of C$179,592.27. Also, Senior Officer Sean William Keating sold 49,048 shares of New Gold stock in a transaction dated Monday, May 5th. The stock was sold at an average price of C$5.40, for a total value of C$264,859.20. Over the last ninety days, insiders have sold 133,610 shares of company stock valued at $686,555. 4.92% of the stock is currently owned by insiders.

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.