New Gold (TSE:NGD) Given New C$2.30 Price Target at Bank of America

New Gold (TSE:NGD) (ARCA:NGD) had its price target lifted by Bank of America from C$1.90 to C$2.30 in a research report sent to investors on Tuesday, BayStreet.CA reports.

Other analysts have also issued reports about the company. National Bank Financial restated a sector perform spec overwgt rating on shares of New Gold in a research note on Wednesday, January 3rd. National Bankshares decreased their target price on New Gold from C$2.25 to C$2.00 and set a sector perform rating on the stock in a research note on Tuesday, February 20th.

New Gold Stock Down 1.2 %

NGD stock opened at C$2.49 on Tuesday. The stock’s fifty day simple moving average is C$2.00 and its two-hundred day simple moving average is C$1.81. The company has a current ratio of 1.54, a quick ratio of 1.64 and a debt-to-equity ratio of 50.84. New Gold has a 1-year low of C$1.17 and a 1-year high of C$2.67. The stock has a market cap of C$1.71 billion, a P/E ratio of -20.75, a P/E/G ratio of -3.02 and a beta of 1.52.

New Gold (TSE:NGD) (ARCA:NGD) last posted its quarterly earnings data on Tuesday, February 13th. The company reported C($0.01) earnings per share for the quarter, missing the consensus estimate of C$0.03 by C($0.04). New Gold had a negative return on equity of 7.38% and a negative net margin of 8.20%. The business had revenue of C$271.22 million during the quarter. Analysts expect that New Gold will post 0.1355088 EPS for the current year.

About New Gold

New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.