New Gold Receives Average Rating of “Hold” from Analysts (NYSE:NGD)
New Gold (NYSE:NGD) has received an average rating of “Hold” from the eight analysts that are presently covering the company, Analyst Ratings Network.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $7.10.
Separately, analysts at Morgan Stanley initiated coverage on shares of New Gold in a research note on Wednesday. They set an “overweight” rating and a $8.00 price target on the stock.
New Gold (NYSE:NGD) traded up 2.43% during mid-day trading on Wednesday, hitting $6.33. The stock had a trading volume of 673,984 shares. New Gold has a 1-year low of $4.68 and a 1-year high of $7.10. The stock has a 50-day moving average of $6.25 and a 200-day moving average of $5.78. The company’s market cap is $3.190 billion.
New Gold (NYSE:NGD) last released its earnings data on Thursday, July 31st. The company reported $0.02 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.02. The company had revenue of $178.10 million for the quarter, compared to the consensus estimate of $195.42 million. During the same quarter last year, the company posted $0.01 earnings per share. New Gold’s revenue was down 2.9% compared to the same quarter last year. Analysts expect that New Gold will post $0.12 EPS for the current fiscal year.
New Gold Inc (NYSE:NGD) is an intermediate gold producer with a portfolio of global assets in the United States, Mexico, Australia, Canada, Chile and Brazil.
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