Insider Buying: New Gold Inc (TSE:NGD) Insider Buys 230,000 Shares of Stock

New Gold Inc (TSE:NGD) (ARCA:NGD) insider Robert Joseph Chausse acquired 230,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The stock was purchased at an average cost of C$1.10 per share, with a total value of C$253,000.00.

Shares of New Gold stock traded up C$0.01 during trading hours on Monday, hitting C$1.04. The company’s stock had a trading volume of 962,065 shares, compared to its average volume of 1,314,193. New Gold Inc has a 12-month low of C$0.90 and a 12-month high of C$4.45. The company has a debt-to-equity ratio of 56.00, a quick ratio of 1.19 and a current ratio of 3.61.

New Gold (TSE:NGD) (ARCA:NGD) last issued its earnings results on Wednesday, October 24th. The company reported C($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C($0.05) by C$0.04. The firm had revenue of C$192.25 million during the quarter, compared to the consensus estimate of C$245.55 million. Research analysts predict that New Gold Inc will post -0.0301477844393216 EPS for the current fiscal year.

Several research firms recently weighed in on NGD. Desjardins lowered their target price on New Gold from C$1.25 to C$0.75 and set a “sell” rating on the stock in a research report on Tuesday, September 4th. National Bank Financial lifted their target price on New Gold from C$1.60 to C$1.70 and gave the company a “sector perform” rating in a research report on Monday, November 12th. Canaccord Genuity upgraded New Gold from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. Eight Capital lowered their target price on New Gold from C$1.75 to C$1.35 in a research report on Thursday, September 20th. Finally, BMO Capital Markets lowered their target price on New Gold from C$2.25 to C$1.25 and set a “market perform” rating on the stock in a research report on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. New Gold presently has an average rating of “Hold” and an average target price of C$2.14.

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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 New Afton project located near Kamloops, British Columbia, Canada; the Mesquite mine located in Imperial County, California, the United States; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

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