New Gold Receives New Coverage from Analysts at Barclays Capital (NGD)
Equities research analysts at Barclays Capital assumed coverage on shares of New Gold (NYSE:NGD) in a research note issued to investors on Wednesday, AnalystRatingsNetwork reports. The firm set an “equal weight” rating and a $8.00 price target on the stock. Barclays Capital’s price objective indicates a potential upside of 28.82% from the stock’s previous close.
New Gold (NYSE:NGD) opened at 6.18 on Wednesday. New Gold has a one year low of $5.70 and a one year high of $12.84. The stock has a 50-day moving average of $6.90 and a 200-day moving average of $7.33. The company has a market cap of $3.087 billion and a P/E ratio of 15.15.
New Gold (NYSE:NGD) last released its earnings data on Wednesday, July 31st. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by $0.05. The company had revenue of $183.50 million for the quarter, compared to the consensus estimate of $241.60 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts expect that New Gold will post $0.24 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on NGD. Analysts at Zacks upgraded shares of New Gold (NYSE:NGD) from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday. They now have a $6.20 price target on the stock. Separately, analysts at Desjardins initiated coverage on shares of New Gold (NYSE:NGD) in a research note to investors on Thursday, August 15th. They set a “top pick” rating on the stock. Finally, analysts at Canaccord Genuity downgraded shares of New Gold (NYSE:NGD) from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, July 17th. They now have a $7.75 price target on the stock, down previously from $11.00.
Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $10.35.
New Gold Inc (NYSE:NGD) is an intermediate gold producer with a portfolio of global assets in the United States, Mexico, Australia, Canada, Chile and Brazil.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.