New Gold Sets New 1-Year Low at $5.69 (NGD)
New Gold (NYSE:NGD)’s share price reached a new 52-week low during trading hours on Tuesday, American Banking and Market News reports. The company traded as low as $5.69 and last traded at $5.74, with a volume of 2,995,626 shares traded. The stock had previously closed at $5.91.
Several analysts have 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 Barclays Capital initiated coverage on shares of New Gold in a research note to investors on Wednesday, September 18th. They set an “equal weight” rating and a $8.00 price target on the stock. Finally, 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. Six 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 stock. The stock currently has an average rating of “Buy” and a consensus price target of $10.35.
New Gold has a 52 week low of $5.70 and a 52 week high of $12.46. The stock’s 50-day moving average is $6.56 and its 200-day moving average is $7.01. The company has a market cap of $2.877 billion and a price-to-earnings ratio of 14.41.
New Gold (NYSE:NGD) last announced its earnings results 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. On average, analysts predict that New Gold will post $0.23 earnings per share 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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