New Gold (TSE:NGD) Given New C$3.00 Price Target at Canaccord Genuity Group

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

Several other analysts have also issued reports on the stock. National Bankshares reduced 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 research report on Tuesday, February 20th. Bank of America raised their price target on shares of New Gold from C$1.90 to C$2.30 in a research note on Tuesday, April 9th. Finally, National Bank Financial reissued a sector perform spec overwgt rating on shares of New Gold in a research note on Monday, April 8th.

New Gold Trading Up 0.4 %

Shares of TSE:NGD opened at C$2.49 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. The company’s 50-day moving average price is C$2.13 and its two-hundred day moving average price is C$1.88. The stock has a market capitalization of C$1.71 billion, a PE ratio of -20.75, a price-to-earnings-growth ratio of -3.02 and a beta of 1.52. New Gold has a one year low of C$1.17 and a one year high of C$2.67.

New Gold (TSE:NGD) (ARCA:NGD) last released its quarterly 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). New Gold had a negative net margin of 8.20% and a negative return on equity of 7.38%. The company had revenue of C$271.22 million during the quarter. On average, equities analysts forecast 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.