Canaccord Genuity Group Raises New Gold (TSE:NGD) Price Target to C$3.00

New Gold (TSE:NGD) (ARCA:NGD) had its price objective raised by Canaccord Genuity Group from C$2.75 to C$3.00 in a research note published on Tuesday, BayStreet.CA reports.

Other equities analysts also recently issued research reports about the stock. Bank of America raised their target price on shares of New Gold from C$1.90 to C$2.30 in a research note on Tuesday, April 9th. National Bank Financial reaffirmed a sector perform spec overwgt rating on shares of New Gold in a research note on Monday, April 8th. Finally, National Bankshares decreased their target price on shares of New Gold from C$2.25 to C$2.00 and set a sector perform rating for the company in a research note on Tuesday, February 20th.

New Gold Stock Performance

Shares of NGD opened at C$2.48 on Tuesday. The company has a debt-to-equity ratio of 50.84, a current ratio of 1.54 and a quick ratio of 1.64. New Gold has a one year low of C$1.17 and a one year high of C$2.67. The company has a 50-day simple moving average of C$2.11 and a two-hundred day simple moving average of C$1.87. The firm has a market capitalization of C$1.70 billion, a PE ratio of -20.33, a price-to-earnings-growth ratio of -3.02 and a beta of 1.52.

New Gold (TSE:NGD) (ARCA:NGD) last issued its quarterly earnings data on Tuesday, February 13th. The company reported C($0.01) EPS 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 company had revenue of C$271.22 million during the quarter. On average, analysts anticipate that New Gold will post 0.1355088 EPS for the current fiscal year.

New Gold Company Profile

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.