New Gold (TSE:NGD) Shares Up 7.3%

New Gold Inc (TSE:NGD) (ARCA:NGD)’s stock price shot up 7.3% during trading on Tuesday . The stock traded as high as C$1.19 and last traded at C$1.18. 815,949 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 1,429,169 shares. The stock had previously closed at C$1.10.

Several research firms have recently commented on NGD. Canaccord Genuity raised their target price on shares of New Gold from C$1.15 to C$1.20 in a research report on Monday, April 15th. National Bank Financial raised their target price on shares of New Gold from C$1.25 to C$1.40 in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of C$1.24.

The firm has a market capitalization of $677.55 million and a P/E ratio of -0.56. The stock’s 50-day moving average price is C$0.97. The company has a debt-to-equity ratio of 85.97, a current ratio of 2.35 and a quick ratio of 1.30.

New Gold Company Profile (TSE:NGD)

New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the Rainy River project located in Ontario, Canada; the New Afton project located near Kamloops, British Columbia, Canada; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

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