NEW YORK (

TheStreet

) --

New Gold

(AMEX:

NGD

) hit a new 52-week high Wednesday as it traded at $11.15 compared with its previous 52-Week high of $11.13. New is changing hands at $11.15 with 1.5 million shares traded as of 11:32 a.m. ET. Average volume has been 3.2 million shares over the past 30 days.

New has a market cap of $4.2 billion and is part of the

basic materials

sector and

metals & mining

industry. Shares are up 11% year to date as of the close of trading on Tuesday.

New Gold Inc. engages in the acquisition, exploration, extraction, processing, reclamation, and production of mineral properties. The company primarily focuses on gold, silver, and copper deposits. The company has a P/E ratio of 31.6, above the average metals & mining industry P/E ratio of 23.9 and above the S&P 500 P/E ratio of 16.1.

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TheStreet Ratings rates New as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full

New Ratings Report

.

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