New Gold (TSE:NGD) Upgraded by TD Securities to "Buy" Rating
TD Securities upgraded New Gold (TSE:NGD) from a "hold" to a "buy" rating, raising the target price from C$7.50 to C$12.00. Other analysts also increased their price targets, with a consensus "buy" rating and an average target of C$10.61. The stock rose 2.5% to C$11.71. New Gold operates mines in Canada and Mexico, with revenue from gold, copper, and silver sales.
New Gold (TSE:NGD - Get Free Report) ARCA: NGD was upgraded by TD Securities from a "hold" rating to a "buy" rating in a note issued to investors on Monday,BayStreet.CA reports. The firm presently has a C$12.00 price target on the stock, up from their previous price target of C$7.50. TD Securities' target price points to a potential upside of 2.48% from the stock's current price.
Other equities analysts have also recently issued research reports about the stock. National Bankshares lifted their target price on shares of New Gold from C$11.50 to C$12.50 and gave the stock an "outperform" rating in a research report on Thursday, October 30th. Canaccord Genuity Group lifted their price target on New Gold from C$9.00 to C$12.50 in a report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of C$10.61.
Read Our Latest Research Report on NGD
New Gold Stock Up 2.5%
TSE:NGD traded up C$0.29 during trading hours on Monday, hitting C$11.71. 1,523,724 shares of the company traded hands, compared to its average volume of 2,087,969. The company has a quick ratio of 1.64, a current ratio of 1.42 and a debt-to-equity ratio of 45.12. The company has a market cap of C$9.27 billion, a PE ratio of 36.59, a PEG ratio of -3.02 and a beta of 2.08. The firm's 50-day simple moving average is C$9.88 and its 200-day simple moving average is C$7.94. New Gold has a one year low of C$3.50 and a one year high of C$12.03.
New Gold (TSE:NGD - Get Free Report) ARCA: NGD last announced its earnings results on Tuesday, October 28th. The company reported C$0.25 EPS for the quarter. New Gold had a net margin of 2.33% and a return on equity of 2.31%. The company had revenue of C$643.99 million during the quarter.
New Gold Company Profile
(Get Free Report)New Gold Inc is an intermediate gold mining company. The company has a portfolio of two producing assets: Rainy River Mine and New Afton Mine in Canada. Also, it has interests in the Cerro San Pedro Mine in Mexico. The company derives revenue from the sale of Gold, Copper, and Silver.
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