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

New Gold Inc. (TSE:NGD) (ARCA:NGD) has been given an average rating of “Buy” by the nine brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is C$4.34.

A number of equities research analysts have weighed in on the stock. National Bank Financial upgraded shares of New Gold to a “strong-buy” rating in a research note on Friday, March 21st. Bank of America raised shares of New Gold from an “underperform” rating to a “buy” rating and raised their price objective for the stock from C$3.65 to C$5.45 in a report on Wednesday.

Insider Transactions at New Gold

In other New Gold news, Senior Officer Keith Murphy sold 41,863 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of C$4.29, for a total transaction of C$179,592.27. 4.92% of the stock is currently owned by insiders.

New Gold Trading Up 0.2 %

New Gold stock opened at C$5.18 on Tuesday. The stock has a market cap of C$2.85 billion, a price-to-earnings ratio of 141.76, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59. The company has a quick ratio of 1.64, a current ratio of 1.42 and a debt-to-equity ratio of 45.12. New Gold has a 12 month low of C$2.26 and a 12 month high of C$5.39. The business has a 50 day moving average price of C$4.31 and a two-hundred day moving average price of C$4.02.

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.