New Gold (TSE:NGD) Price Target Raised to C$2.30

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

Several other research firms have also recently issued reports on NGD. National Bankshares cut their price target on shares of New Gold from C$2.25 to C$2.00 and set a sector perform rating on the stock in a report on Tuesday, February 20th. National Bank Financial reaffirmed a sector perform spec overwgt rating on shares of New Gold in a report on Wednesday, January 3rd.

New Gold Price Performance

NGD opened at C$2.52 on Tuesday. The company has a quick ratio of 1.64, a current ratio of 1.54 and a debt-to-equity ratio of 50.84. New Gold has a 52-week low of C$1.17 and a 52-week high of C$2.55. The company has a 50 day moving average of C$1.98 and a two-hundred day moving average of C$1.80. The company has a market cap of C$1.73 billion, a P/E ratio of -21.00, a P/E/G ratio of -3.02 and a beta of 1.52.

New Gold (TSE:NGD) (ARCA:NGD) last announced its earnings results 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). The firm had revenue of C$271.22 million during the quarter. New Gold had a negative net margin of 8.20% and a negative return on equity of 7.38%. On average, analysts expect that New Gold will post 0.1355088 earnings per share 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.