BMO Capital Markets Reiterates Outperform Rating for New Gold (NGD)
New Gold (TSE:NGD)‘s stock had its “outperform” rating reiterated by investment analysts at BMO Capital Markets in a note issued to investors on Friday, StockRatingsNetwork reports. They currently have a C$7.00 price objective on the stock, down from their previous price objective of C$7.50. BMO Capital Markets’ price target points to a potential upside of 16.28% from the stock’s previous close.
NGD has been the subject of a number of other recent research reports. Analysts at NBF cut their price target on shares of New Gold from C$7.70 to C$7.25 in a research note to investors on Friday. Separately, analysts at Desjardins downgraded shares of New Gold from a “buy” rating to a “hold” rating in a research note to investors on Monday, January 20th. They now have a C$6.75 price target on the stock, down previously from C$7.00. Finally, analysts at Canaccord Genuity raised their price target on shares of New Gold from C$5.75 to C$7.00 in a research note to investors on Monday, January 20th. They now have a “hold” rating on the stock. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of C$7.81.
New Gold (TSE:NGD) opened at 6.02 on Friday. New Gold has a 52-week low of $4.99 and a 52-week high of $10.14. The stock’s 50-day moving average is $5.98 and its 200-day moving average is $6.28. The company has a market cap of $3.030 billion and a P/E ratio of 16.02.
New Gold Inc is engaged in gold mining and related activities, including acquisition, exploration, extraction, processing and reclamation.
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