New Gold (TSE:NGD) Reaches New 12-Month High – Time to Buy?

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$5.07 and last traded at C$5.03, with a volume of 300845 shares trading hands. The stock had previously closed at C$4.81.

Analyst Upgrades and Downgrades

Separately, National Bank Financial raised shares of New Gold to a “strong-buy” rating in a report on Friday, March 21st. One analyst has rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$3.71.

New Gold Stock Up 4.0 %

The company’s 50 day moving average price is C$4.24 and its two-hundred day moving average price is C$3.98. The company has a current ratio of 1.42, a quick ratio of 1.64 and a debt-to-equity ratio of 45.12. The firm has a market cap of C$2.75 billion, a PE ratio of 136.83, a PEG ratio of -3.02 and a beta of 1.59.

Insider Activity at New Gold

In related news, Senior Officer Keith Murphy sold 41,863 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of C$4.29, for a total value of C$179,592.27. 4.92% of the stock is owned by company insiders.

New Gold Company Profile

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.