New Gold (TSE:NGD) Sets New 1-Year High – What’s Next?

New Gold Inc. (TSE:NGD) (ARCA:NGD) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$10.88 and last traded at C$10.86, with a volume of 921847 shares trading hands. The stock had previously closed at C$10.36.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NGD. TD Securities upped their price objective on shares of New Gold from C$7.00 to C$7.50 and gave the stock a “hold” rating in a report on Thursday, October 30th. National Bankshares boosted their price target on New Gold from C$11.50 to C$12.50 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Canaccord Genuity Group upped their target price on shares of New Gold from C$9.00 to C$12.50 in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$9.49.

New Gold Trading Up 5.4%

The stock has a 50-day simple moving average of C$9.75 and a two-hundred day simple moving average of C$7.81. The company has a current ratio of 1.42, a quick ratio of 1.64 and a debt-to-equity ratio of 45.12. The firm has a market capitalization of C$8.65 billion, a P/E ratio of 34.13, a price-to-earnings-growth 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$0.18 EPS for the quarter. The company had revenue of C$643.99 million during the quarter. New Gold had a net margin of 2.33% and a return on equity of 2.31%.

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.