New Gold (TSE:NGD) Trading Up 4.2% – What’s Next?

New Gold Inc. (TSE:NGD) (ARCA:NGD) shot up 4.2% during trading on Wednesday . The company traded as high as C$4.53 and last traded at C$4.45. 1,018,652 shares changed hands during trading, a decline of 42% from the average session volume of 1,755,067 shares. The stock had previously closed at C$4.27.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America upgraded New Gold from an “underperform” rating to a “buy” rating and upped their target price for the stock from C$3.65 to C$5.45 in a research report on Wednesday, March 26th. National Bank Financial raised New Gold to a “strong-buy” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, New Gold currently has an average rating of “Buy” and a consensus target price of C$4.34.

New Gold Price Performance

The company has a fifty day simple moving average of C$4.44 and a 200-day simple moving average of C$4.10. The company has a market cap of C$2.73 billion, a P/E ratio of 136.01, a PEG ratio of -3.02 and a beta of 1.59. The company has a debt-to-equity ratio of 45.12, a current ratio of 1.42 and a quick ratio of 1.64.

Insider Transactions at New Gold

In other news, Senior Officer Keith Murphy sold 41,863 shares of New Gold 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. 4.92% of the stock is owned by 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.