New Gold (TSE:NGD) Price Target Raised to C$4.50 at BMO Capital Markets

New Gold (TSE:NGD) (ARCA:NGD) had its price target lifted by BMO Capital Markets from C$4.25 to C$4.50 in a research note published on Wednesday, BayStreet.CA reports.

Several other analysts also recently issued reports on the stock. National Bank Financial raised shares of New Gold from a hold rating to a strong-buy rating in a research report on Friday, May 17th. Bank of America raised their price target on shares of New Gold from C$1.90 to C$2.30 in a research report on Tuesday, April 9th. Scotiabank raised shares of New Gold from a hold rating to a strong-buy rating in a research report on Tuesday, May 21st. TD Securities raised shares of New Gold from a strong sell rating to a hold rating in a research report on Tuesday, May 21st. Finally, Canaccord Genuity Group raised their price target on shares of New Gold from C$3.25 to C$4.00 in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, New Gold has an average rating of Buy and a consensus price target of C$3.61.

New Gold Stock Down 5.0 %

Shares of TSE:NGD opened at C$3.02 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 1.51 and a debt-to-equity ratio of 54.32. New Gold has a 52-week low of C$1.17 and a 52-week high of C$3.35. The company has a 50 day moving average of C$2.89 and a two-hundred day moving average of C$2.40. The company has a market capitalization of C$2.08 billion, a price-to-earnings ratio of -21.57, a price-to-earnings-growth ratio of -3.02 and a beta of 1.60.

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.