New Gold Receives Average Recommendation of “Buy” from Analysts (TSE:NGD)
New Gold (TSE:NGD) has been given a consensus recommendation of “Buy” by the thirteen ratings firms that are presently covering the stock, AnalystRatingsNetwork.com reports. Five investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is C$7.48.
NGD has been the subject of a number of recent research reports. Analysts at CIBC raised their price target on shares of New Gold from C$7.25 to C$8.00 in a research note on Friday, August 8th. They now have a “sector perform” rating on the stock. Analysts at Canaccord Genuity raised their price target on shares of New Gold from C$7.75 to C$8.00 in a research note on Thursday, July 10th. They now have a “buy” rating on the stock.
Shares of New Gold (TSE:NGD) opened at 6.87 on Thursday. New Gold has a one year low of $4.99 and a one year high of $8.52. The stock’s 50-day moving average is $6.79 and its 200-day moving average is $6.28. The company’s market cap is $3.462 billion.
New Gold (TSE:NGD) last released its earnings data on Friday, August 1st. The company reported $0.02 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.02. On average, analysts predict that New Gold will post $0.13 earnings per share for the current fiscal year.
New Gold Inc is engaged in gold mining and related activities, including acquisition, exploration, extraction, processing and reclamation.
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