New Gold PT Lowered to C$7.70 (NGD)
NBF dropped their price target on shares of New Gold (TSE:NGD) from C$8.00 to C$7.70 in a research note issued on Friday, ARN reports. NBF’s price objective would indicate a potential upside of 23.40% from the company’s current price.
New Gold (TSE:NGD) traded up 2.41% during mid-day trading on Friday, hitting $6.38. The stock had a trading volume of 952,401 shares. New Gold has a 52 week low of $4.99 and a 52 week high of $10.94. The stock’s 50-day moving average is $5.47 and its 200-day moving average is $6.34. The company has a market cap of $3.211 billion and a P/E ratio of 15.57.
A number of other analysts have also recently weighed in on NGD. Analysts at National Bank Financial cut their price target on shares of New Gold from C$8.00 to C$7.70 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Credit Suisse downgraded shares of New Gold to a “neutral” rating in a research note to investors on Wednesday. Finally, analysts at RBC Capital reiterated an “outperform” rating on shares of New Gold in a research note to investors on Monday, December 16th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of C$8.24.
New Gold Inc is engaged in gold mining and related activities, including acquisition, exploration, extraction, processing and reclamation.
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.