New Gold Receives Average Rating of “Buy” from Brokerages (TSE:NGD)
New Gold (TSE:NGD) has received a consensus recommendation of “Buy” from the thirteen ratings firms that are currently covering the stock, AnalystRatings.NET reports. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$7.48.
Shares of New Gold (TSE:NGD) opened at 6.81 on Thursday. New Gold has a 52 week low of $4.99 and a 52 week high of $8.52. The stock’s 50-day moving average is $6.79 and its 200-day moving average is $6.29. The company’s market cap is $3.432 billion.
New Gold (TSE:NGD) last announced its earnings results on Friday, August 1st. The company reported $0.02 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.02. Analysts expect that New Gold will post $0.13 EPS for the current fiscal year.
Several analysts have recently commented on the stock. 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.
New Gold Inc is engaged in gold mining and related activities, including acquisition, exploration, extraction, processing and reclamation.
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