New Gold Lowered to Neutral at Credit Suisse (NGD)
New Gold (TSE:NGD) was downgraded by analysts at Credit Suisse to a “neutral” rating in a research report issued to clients and investors on Wednesday, Analyst Ratings.Net reports.
A number of other analysts have also recently weighed in on NGD. Analysts at RBC Capital reiterated an “outperform” rating on shares of New Gold in a research note to investors on Monday, December 16th. Separately, analysts at National Bank Financial cut their price target on shares of New Gold from C$8.50 to C$8.00 in a research note to investors on Friday, December 13th. They now have an “outperform” rating on the stock. Finally, analysts at Desjardins cut their price target on shares of New Gold from C$10.00 to C$8.75 in a research note to investors on Friday, December 13th. They now have a “top pick” rating on the stock. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of C$8.32.
New Gold (TSE:NGD) traded up 0.48% during mid-day trading on Wednesday, hitting $6.22. 1,014,532 shares of the company’s stock traded hands. New Gold has a 52 week low of $4.99 and a 52 week high of $10.98. The stock has a 50-day moving average of $5.38 and a 200-day moving average of $6.34. The company has a market cap of $3.131 billion and a P/E ratio of 15.48.
New Gold Inc is engaged in gold mining and related activities, including acquisition, exploration, extraction, processing and reclamation.
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