New Gold (TSE:NGD) Raised to Hold at TD Securities

TD Securities upgraded shares of New Gold (TSE:NGD) (ARCA:NGD) from a strong sell rating to a hold rating in a research note published on Tuesday morning, Zacks.com reports.

NGD has been the subject of several other reports. Bank of America increased their target price on shares of New Gold from C$1.90 to C$2.30 in a report on Tuesday, April 9th. Canaccord Genuity Group increased their target price on shares of New Gold from C$2.75 to C$3.00 in a report on Tuesday, April 23rd. Scotiabank raised shares of New Gold from a hold rating to a strong-buy rating in a report on Tuesday. National Bankshares raised shares of New Gold from a sector perform rating to an outperform rating and increased their target price for the stock from C$3.25 to C$3.50 in a report on Tuesday. Finally, National Bank Financial raised shares of New Gold from a hold rating to a strong-buy rating in a report on Friday, May 17th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of C$2.76.

New Gold Price Performance

Shares of TSE:NGD opened at C$2.59 on Tuesday. The firm’s 50 day moving average price is C$2.45 and its 200-day moving average price is C$2.03. New Gold has a twelve month low of C$1.17 and a twelve month high of C$3.00. The company has a quick ratio of 1.64, a current ratio of 1.51 and a debt-to-equity ratio of 54.32. The stock has a market capitalization of C$1.79 billion, a PE ratio of -18.50, a price-to-earnings-growth ratio of -3.02 and a beta of 1.60.

New Gold (TSE:NGD) (ARCA:NGD) last released its earnings results on Tuesday, April 30th. The company reported C$0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.01 by C$0.02. The company had revenue of C$258.98 million during the quarter. New Gold had a negative net margin of 9.81% and a negative return on equity of 9.44%. Equities research analysts expect that New Gold will post 0.2190332 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.