New Gold (TSE:NGD) Hits New 1-Year High at $2.69

New Gold Inc. (TSE:NGD) (ARCA:NGD)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$2.69 and last traded at C$2.68, with a volume of 877273 shares trading hands. The stock had previously closed at C$2.57.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Canaccord Genuity Group lifted their price objective on shares of New Gold from C$2.75 to C$3.00 in a research note on Tuesday, April 23rd. Bank of America boosted their price objective on New Gold from C$1.90 to C$2.30 in a research note on Tuesday, April 9th. National Bankshares lowered their price objective on 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. Finally, National Bank Financial reissued a “sector perform spec overwgt” rating on shares of New Gold in a research report on Monday, April 8th.

New Gold Stock Up 5.1 %

The firm has a market cap of C$1.86 billion, a PE ratio of -18.36, a price-to-earnings-growth ratio of -3.02 and a beta of 1.61. The company has a 50-day simple moving average of C$2.31 and a 200-day simple moving average of C$1.95. The company has a debt-to-equity ratio of 54.32, a current ratio of 1.51 and a quick ratio of 1.64.

New Gold (TSE:NGD) (ARCA:NGD) last posted its quarterly earnings data on Tuesday, February 13th. The company reported C($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.03 by C($0.04). New Gold had a negative net margin of 9.81% and a negative return on equity of 9.44%. The business had revenue of C$271.22 million for the quarter. Analysts expect that New Gold Inc. will post 0.1784946 earnings per share for the current fiscal 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.