New Gold (TSE:NGD) Price Target Raised to C$2.00 at BMO Capital Markets

New Gold (TSE:NGD) (ARCA:NGD) had its price target raised by BMO Capital Markets from C$1.50 to C$2.00 in a research report sent to investors on Friday, BayStreet.CA reports.

Other equities analysts have also recently issued reports about the company. National Bank Financial raised their price objective on New Gold from C$1.35 to C$2.00 and gave the company a sector perform rating in a research note on Tuesday, July 23rd. Cormark raised their price objective on New Gold from C$1.15 to C$1.35 in a research note on Thursday, June 27th. Finally, Canaccord Genuity raised their price objective on New Gold from C$1.10 to C$1.80 in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock has a consensus rating of Hold and a consensus price target of C$1.49.

Shares of NGD traded down C$0.11 during trading hours on Friday, reaching C$1.63. The stock had a trading volume of 2,215,100 shares, compared to its average volume of 1,584,222. New Gold has a 12 month low of C$0.82 and a 12 month high of C$2.03. The stock’s 50-day moving average is C$1.43. The company has a debt-to-equity ratio of 85.97, a current ratio of 2.35 and a quick ratio of 1.30. The firm has a market cap of $1.02 billion and a P/E ratio of -0.78.

New Gold (TSE:NGD) (ARCA:NGD) last issued its quarterly earnings data on Thursday, August 1st. The company reported C($0.01) earnings per share for the quarter, beating the consensus estimate of C($0.02) by C$0.01. The company had revenue of C$207.47 million for the quarter, compared to the consensus estimate of C$216.59 million. Sell-side analysts expect that New Gold will post 0.02 earnings per share for the current fiscal year.

About New Gold

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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