Brokerages Set New Gold Inc. (TSE:NGD) Target Price at C$3.71

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) have been given a consensus recommendation of “Buy” by the nine research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$4.34.

Several brokerages have weighed in on NGD. Bank of America upgraded shares of New Gold from an “underperform” rating to a “buy” rating and upped their target price for the stock from C$3.65 to C$5.45 in a research report on Wednesday, March 26th. National Bank Financial upgraded New Gold to a “strong-buy” rating in a report on Friday, March 21st.

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 transaction of C$179,592.27. Corporate insiders own 4.92% of the company’s stock.

New Gold Stock Up 2.7 %

TSE:NGD opened at C$5.32 on Tuesday. The stock’s fifty day moving average is C$4.34. The company has a debt-to-equity ratio of 45.12, a quick ratio of 1.64 and a current ratio of 1.42. The firm has a market cap of C$2.93 billion, a PE ratio of 145.59, a PEG ratio of -3.02 and a beta of 1.59. New Gold has a fifty-two week low of C$2.26 and a fifty-two week high of C$5.39.

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.