New Gold (TSE:NGD) Stock Rating Upgraded by TD Securities

New Gold (TSE:NGD) (ARCA:NGD) was upgraded by stock analysts at TD Securities from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage presently has a C$12.00 price objective on the stock, up from their previous price objective of C$7.50. TD Securities’ price objective indicates a potential upside of 6.76% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group lifted their target price on shares of New Gold from C$9.00 to C$12.50 in a research report on Thursday, October 2nd. National Bankshares raised their price target on New Gold from C$11.50 to C$12.50 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$10.61.

New Gold Price Performance

NGD opened at C$11.24 on Monday. The company has a debt-to-equity ratio of 45.12, a quick ratio of 1.64 and a current ratio of 1.42. The stock has a market capitalization of C$8.90 billion, a P/E ratio of 35.13, a P/E/G ratio of -3.02 and a beta of 2.08. The company’s 50-day simple moving average is C$9.96 and its two-hundred day simple moving average is C$8.02. New Gold has a 52-week low of C$3.50 and a 52-week high of C$12.03.

New Gold (TSE:NGD) (ARCA:NGD) last announced its quarterly earnings results on Tuesday, October 28th. The company reported C$0.25 EPS for the quarter. New Gold had a net margin of 2.33% and a return on equity of 2.31%. The firm had revenue of C$643.99 million during the quarter.

About New Gold

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.