New Gold Inc. (NGD) Given Average Rating of “Hold” by Brokerages
Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) have received an average rating of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$4.62.
Several equities analysts have issued reports on the company. Mackie cut their target price on New Gold from C$5.00 to C$4.50 in a research note on Tuesday, February 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a C$4.50 target price on shares of New Gold in a research note on Wednesday, February 15th. Desjardins reiterated a “buy” rating and issued a C$4.75 target price on shares of New Gold in a research note on Friday, March 10th. Scotiabank reiterated a “sector perform” rating and issued a C$4.00 target price on shares of New Gold in a research note on Wednesday, April 26th. Finally, TD Securities restated a “buy” rating and set a C$7.00 price target on shares of New Gold in a research note on Friday, April 28th.
New Gold (TSE NGD) opened at 3.96 on Friday. The stock has a market cap of $2.28 billion and a P/E ratio of 141.43. The stock has a 50 day moving average of $4.00 and a 200 day moving average of $4.34. New Gold has a 1-year low of $3.11 and a 1-year high of $7.87.
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In other New Gold news, Director Vahan Kololian purchased 100,000 shares of the company’s stock in a transaction dated Friday, March 10th. The shares were acquired at an average price of C$2.80 per share, for a total transaction of C$280,000.00. Also, insider Armando Ortega sold 23,333 shares of the business’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of C$3.68, for a total value of C$85,865.44.
New Gold Company Profile
New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.
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