NEW YORK (

TheStreet

) --

New Gold

(AMEX:

NGD

) hit a new 52-week high Friday as it is currently trading at $13.07, above its previous 52-week high of $13.05 with 1.5 million shares traded as of 10:30 a.m. ET. Average volume has been 3.5 million shares over the past 30 days.

New has a market cap of $5.4 billion and is part of the

basic materials

sector and

metals & mining

industry. Shares are up 30.7% year to date as of the close of trading on Thursday.

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New Gold Inc. engages in the acquisition, exploration, extraction, processing, and reclamation of mineral properties. The company primarily explore for gold, silver, and copper deposits. The company has a P/E ratio of 19.5, below the average metals & mining industry P/E ratio of 25.2 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates New as a

buy

. 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, expanding profit margins, impressive record of earnings per share growth and notable return on equity. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full

New Ratings Report

.

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