New Gold (TSE:NGD) Shares Up 1.9% – Still a Buy?

New Gold Inc. (TSE:NGD) (ARCA:NGD)’s share price was up 1.9% during trading on Monday . The stock traded as high as C$4.58 and last traded at C$4.35. Approximately 1,372,428 shares were traded during trading, a decline of 21% from the average daily volume of 1,727,058 shares. The stock had previously closed at C$4.27.

Wall Street Analyst Weigh In

NGD has been the topic of a number of analyst reports. National Bank Financial raised New Gold to a “strong-buy” rating in a research note on Friday, March 21st. Bank of America raised New Gold from an “underperform” rating to a “buy” rating and increased their target price for the company from C$3.65 to C$5.45 in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, New Gold presently has an average rating of “Buy” and an average target price of C$4.34.

New Gold Stock Performance

The firm’s 50-day moving average is C$4.41. 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 firm has a market cap of C$2.34 billion, a price-to-earnings ratio of 116.58, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59.

Insider Buying and Selling at New Gold

In related news, Senior Officer Keith Murphy sold 41,863 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of C$4.29, for a total transaction of C$179,592.27. Insiders own 4.92% of the company’s stock.

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.