New Gold Rating Reiterated by Barclays Capital (NGD)
New Gold (NYSE:NGD)‘s stock had its “hold” rating reiterated by equities research analysts at Barclays Capital in a research note issued to investors on Tuesday, Analyst Ratings Net reports. They currently have a $8.00 target price on the stock. Barclays Capital’s target price suggests a potential upside of 38.89% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of New Gold in a research note to investors on Friday, September 20th. They set a “neutral” rating on the stock. Separately, analysts at Zacks upgraded shares of New Gold from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, September 17th. They now have a $6.20 price target on the stock. Finally, analysts at Desjardins initiated coverage on shares of New Gold in a research note to investors on Thursday, August 15th. They set a “top pick” rating on the stock. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $10.35.
Shares of New Gold (NYSE:NGD) traded down 2.54% during mid-day trading on Tuesday, hitting $5.76. 3,589,959 shares of the company’s stock traded hands. New Gold has a 52 week low of $5.70 and a 52 week high of $12.46. The stock has a 50-day moving average of $6.56 and a 200-day moving average of $7.01. The company has a market cap of $2.877 billion and a P/E ratio of 14.41.
New Gold (NYSE:NGD) last released its earnings data on Wednesday, July 31st. The company reported $0.01 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.10 earnings per share. New Gold’s revenue was up 5.3% compared to the same quarter last year. 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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