New Gold (TSE:NGD) Hits New 12-Month High – What’s Next?

New Gold Inc. (TSE:NGD) (ARCA:NGD) shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$8.37 and last traded at C$8.33, with a volume of 1098516 shares. The stock had previously closed at C$8.10.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial upgraded New Gold to a “hold” rating in a research report on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$5.45.

New Gold Price Performance

The company has a 50-day moving average price of C$6.68 and a two-hundred day moving average price of C$5.71. 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 company has a market cap of C$6.67 billion, a PE ratio of 42.10, a P/E/G ratio of -3.02 and a beta of 1.12.

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.