New Gold Coverage Initiated at Goldman Sachs Group Inc. (NGD)
Stock analysts at Goldman Sachs Group Inc. initiated coverage on shares of New Gold (NYSE:NGD) in a report issued on Friday, AnalystRatingsNetwork reports. The firm set a “neutral” rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays Capital initiated coverage on shares of New Gold (NYSE:NGD) in a research note to investors on Wednesday. They set an “equal weight” rating and a $8.00 price target on the stock. Separately, 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. Finally, 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.
Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. New Gold currently has an average rating of “Buy” and a consensus price target of $10.35.
Shares of New Gold (NYSE:NGD) opened at 6.81 on Friday. New Gold has a 1-year low of $5.70 and a 1-year high of $12.84. The stock has a 50-day moving average of $6. and a 200-day moving average of $7.32. The company has a market cap of $3.401 billion and a P/E ratio of 16.61.
New Gold (NYSE:NGD) last released its earnings data on Wednesday, July 31st. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts expect that New Gold will post $0.23 EPS for the current fiscal year.
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.
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