New Gold Inc. (TSE:NGD) Senior Executive Robert Joseph Chausse Buys 100,000 Shares
New Gold Inc. (EAST: NGD – Get a rating) (ARCA:NGD) Senior Officer Robert Joseph Chausse acquired 100,000 shares of the company in a transaction dated Monday, August 15. The shares were acquired at an average cost of CA$1.01 per share, for a total transaction of CA$101,000.00. Following the completion of the purchase, the insider now directly owns 703,803 shares of the company, valued at C$710,841.03.
New performance of gold stocks
Shares of New stock of gold opened at C$1.01 on Tuesday. The company has a market capitalization of C$689.12 million and a PE ratio of 4.39. New Gold Inc. has a 52-week low of CA$0.87 and a 52-week high of CA$2.57. The company has a 50-day moving average price of CA$1.25 and a 200-day moving average price of CA$1.79. The company has a quick ratio of 2.08, a current ratio of 2.81 and a debt ratio of 41.04.
A Wall Street analyst gives his opinion
A number of research companies have weighed in on NGD recently. Credit Suisse Group lowered its price target on New Gold from CA$1.40 to CA$1.10 in a Tuesday, July 12 research note. National Bankshares lowered its price target on New Gold from CA$1.50 to CA$1.20 and set an “industry performance” rating on the stock in a Thursday, July 21 research note. Canaccord Genuity Group downgraded New Gold from a ‘hold’ to a ‘buy’ rating and raised its price target for the stock from C$2.25 to C$3.00 in a research note Friday, April 22. BMO Capital Markets lowered its price target on New Gold from C$3.00 to C$2.00 in a Wednesday, July 13 research note. Finally, Cormark lowered its price target on New Gold from CA$2.25 to CA$1.00 and placed an “industry performance” rating on the stock in a Wednesday, July 13 research note. Six analysts gave the stock a hold rating and one gave the company a buy rating. Based on data from MarketBeat.com, New Gold currently has a consensus rating of “Hold” and a consensus target price of C$1.92.
New Gold Company Profile
New Gold Inc, a mid-tier gold mining company, is engaged in the exploration, development and operation of mineral properties. He mainly explores gold, silver and copper deposits. The Company’s principal operating properties include a 100% interest in the Rainy River mine located in Ontario, Canada; and the New Afton Mine located in British Columbia, Canada.
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