New Gold Inc. (USA)(NYSEMKT:NGD) Stock Gets Upgraded

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Dallas, Texas 02/28/2014 (FINANCIALSTRENDS) – New Gold Inc. (USA)(NYSEMKT:NGD), is a Canadian Gold miner with core operations related to its Mesquite mine, off United States and the Cerro San Pedro gold-copper mine located off Mexico.

New Gold Inc. (USA)(NYSEMKT:NGD) has received an upgrade on the price target. The firm is currently now on ‘hold’ rating, while the target price for the same is at 22.77% higher over previous close.

New Gold Inc. (USA)(NYSEMKT:NGD) shares have seen a higher trading of 0.74% as of the previous trading session. The shares are priced in the range of $4.99 and have also exceeded the one-year high of $10.14. Additionally, the 50-day moving average is positioned at $6.42.  Moreover, the 200-day moving average is also rated at $6.22. The overall market cap is at $3.407 billion. Typically, the price-to-earnings ratio is 16.80.

New Gold Inc. (USA)(NYSEMKT:NGD) has also received analyst reports from other players as well. National Bank Financial has cut price target as of Feb 7, 2014. The stock is currently placed at ‘outperform’ rating on the stock. Analysts such as BMO Capital Markets have placed an ‘outperform’ rating on the shares of New Gold, besides NBF is also revising the price target for this gold miner. Nearly six analysts have the rate of stock on ‘hold’ rating, while the seven have already issued a ‘buy’ on the stock. Again, the overall consensus for the stock is ‘buy,’ while the price target for them is at $7.88.

New Gold Inc. (USA)(NYSEMKT:NGD) in its fourth quarter results report has announced that the overall cash flow is $90 million for the quarter. It has also highlighted that the mining company was able to close the quarter on a high note.

2014 Outlook

New Gold Inc. (USA)(NYSEMKT:NGD) has also identified that for 2014, the target is to lower the costs further.  Next, it will also look at increasing the cash flow. Besides, the increase in gold prices combined with the drop in Canadian prices has led to substantial increase across the projects.

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