New Gold Inc. (NGD) Receives Consensus Rating of “Hold” from Analysts
Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) have been assigned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat reports. Three 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 12 month target price among brokers that have issued ratings on the stock in the last year is C$4.62.
NGD has been the topic of a number of analyst reports. Desjardins reaffirmed a “buy” rating and set a C$4.75 target price on shares of New Gold in a research report on Friday, March 10th. Scotiabank reaffirmed a “sector perform” rating and set a C$3.00 target price on shares of New Gold in a research report on Monday, March 13th. Finally, TD Securities dropped their target price on New Gold from C$5.50 to C$5.00 and set a “buy” rating on the stock in a research report on Monday, March 13th.
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New Gold (TSE NGD) traded up 1.00% on Tuesday, hitting $4.03. The stock had a trading volume of 1,362,264 shares. New Gold has a one year low of $3.11 and a one year high of $7.87. The company’s 50-day moving average is $3.95 and its 200-day moving average is $4.23. The stock has a market cap of $2.32 billion and a P/E ratio of 143.93.
About New Gold
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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