New Gold Inc. (TSE:NGD) Receives Average Rating of “Buy” from Analysts

New Gold Inc. (TSE:NGD) (ARCA:NGD) has earned a consensus rating of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$3.06.

NGD has been the subject of a number of analyst reports. CIBC raised shares of New Gold from a “neutral” rating to an “outperform” rating and upped their price objective for the company from C$2.10 to C$3.00 in a research note on Monday, June 3rd. National Bank Financial raised shares of New Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 17th. Canaccord Genuity Group upped their price objective on shares of New Gold from C$2.75 to C$3.00 in a research note on Tuesday, April 23rd. Bank of America upped their price objective on shares of New Gold from C$1.90 to C$2.30 in a research note on Tuesday, April 9th. Finally, TD Securities raised shares of New Gold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 21st.

New Gold Price Performance

Shares of TSE NGD opened at C$2.70 on Friday. New Gold has a twelve month low of C$1.17 and a twelve month high of C$3.15. The company has a current ratio of 1.51, a quick ratio of 1.64 and a debt-to-equity ratio of 54.32. The company has a market capitalization of C$1.86 billion, a price-to-earnings ratio of -19.29, a PEG ratio of -3.02 and a beta of 1.60. The firm has a 50-day moving average of C$2.68 and a two-hundred day moving average of C$2.22.

New Gold (TSE:NGD) (ARCA:NGD) last issued its quarterly earnings results on Tuesday, April 30th. The company reported C$0.03 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.01 by C$0.02. New Gold had a negative net margin of 9.81% and a negative return on equity of 9.44%. The company had revenue of C$258.98 million during the quarter. As a group, analysts expect that New Gold will post 0.2190332 earnings per share for the current fiscal year.

About New Gold

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.