New Gold (TSE:NGD) Shares Up 4.2% – Time to Buy?

New Gold Inc. (TSE:NGD) (ARCA:NGD) shares traded up 4.2% during mid-day trading on Wednesday . The stock traded as high as C$4.53 and last traded at C$4.45. 1,018,652 shares traded hands during trading, a decline of 42% from the average session volume of 1,755,067 shares. The stock had previously closed at C$4.27.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NGD shares. Bank of America raised New Gold from an “underperform” rating to a “buy” rating and lifted their target price for the company from C$3.65 to C$5.45 in a research report on Wednesday, March 26th. National Bank Financial upgraded shares of New Gold to a “strong-buy” rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$4.34.

New Gold Stock Up 6.8 %

The company has a debt-to-equity ratio of 45.12, a current ratio of 1.42 and a quick ratio of 1.64. The company has a market cap of C$2.51 billion, a PE ratio of 124.79, a P/E/G ratio of -3.02 and a beta of 1.59. The business’s 50 day moving average is C$4.41 and its 200-day moving average is C$4.08.

Insider Transactions at New Gold

In related news, Senior Officer Keith Murphy sold 41,863 shares of New Gold stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of C$4.29, for a total transaction of C$179,592.27. Corporate insiders own 4.92% of the company’s stock.

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.