New Gold Inc. (TSE:NGD) Given Average Recommendation of “Buy” by Brokerages

New Gold Inc. (TSE:NGD) (ARCA:NGD) has been assigned a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$4.34.

A number of equities research analysts recently commented on NGD shares. National Bank Financial raised New Gold to a “strong-buy” rating in a report on Friday, March 21st. Bank of America raised shares of New Gold from an “underperform” rating to a “buy” rating and upped their price objective for the company from C$3.65 to C$5.45 in a report on Wednesday, March 26th.

New Gold Stock Performance

Shares of NGD stock opened at C$5.06 on Friday. 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 business has a fifty day moving average of C$4.52 and a 200 day moving average of C$4.13. The firm has a market capitalization of C$2.78 billion, a price-to-earnings ratio of 138.47, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59. New Gold has a 1 year low of C$2.29 and a 1 year high of C$5.39.

Insider Buying and Selling at New Gold

In other news, Senior Officer Keith Murphy sold 41,863 shares of the stock in a transaction that occurred 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 owned by corporate insiders.

New Gold Company Profile

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.