New Gold (TSE:NGD) Trading 3.7% Higher – Still a Buy?

New Gold Inc. (TSE:NGD) (ARCA:NGD)’s stock price was up 3.7% during mid-day trading on Wednesday . The stock traded as high as C$4.53 and last traded at C$4.43. Approximately 839,068 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 1,750,109 shares. The stock had previously closed at C$4.27.

Analyst Ratings Changes

A number of brokerages recently issued reports on NGD. Bank of America upgraded shares of 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 report on Wednesday, March 26th. National Bank Financial upgraded shares of New Gold to a “strong-buy” rating in a report on Friday, March 21st. One equities research 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, the company has a consensus rating of “Buy” and a consensus target price of C$4.34.

New Gold Stock Performance

The firm’s 50-day moving average price is C$4.44 and its two-hundred day moving average price is C$4.10. The company has a quick ratio of 1.64, a current ratio of 1.42 and a debt-to-equity ratio of 45.12. The firm has a market capitalization of C$2.73 billion, a PE ratio of 136.01, a P/E/G ratio of -3.02 and a beta of 1.59.

Insider Buying and Selling at New Gold

In other New Gold news, Senior Officer Keith Murphy sold 41,863 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of C$4.29, for a total value of C$179,592.27. Company 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.