New Gold (TSE:NGD) Upgraded at TD Securities

TD Securities upgraded shares of New Gold (TSE:NGD) (ARCA:NGD) from a hold rating to a buy rating in a research note issued to investors on Monday, MarketBeat Ratings reports. TD Securities currently has C$12.00 target price on the stock, up from their prior target price of C$7.50.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group upped their target price on New Gold from C$9.00 to C$12.50 in a research note on Thursday, October 2nd. National Bankshares increased their price objective on shares of New Gold from C$11.50 to C$12.50 and gave the company an “outperform” rating in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$10.61.

New Gold Trading Down 2.4%

Shares of TSE:NGD opened at C$10.97 on Monday. The company has a current ratio of 1.42, a quick ratio of 1.64 and a debt-to-equity ratio of 45.12. New Gold has a 12-month low of C$3.50 and a 12-month high of C$12.03. The business has a 50 day moving average of C$9.99 and a two-hundred day moving average of C$8.04. The company has a market capitalization of C$8.69 billion, a PE ratio of 34.28, a PEG ratio of -3.02 and a beta of 2.08.

New Gold (TSE:NGD) (ARCA:NGD) last posted its earnings results on Tuesday, October 28th. The company reported C$0.25 earnings per share for the quarter. New Gold had a net margin of 2.33% and a return on equity of 2.31%. The firm had revenue of C$643.99 million during the quarter.

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.