New Gold Inc. (NGD) Given Average Rating of “Hold” by Brokerages
New Gold Inc. (ARCA:NGD) has received a consensus recommendation of “Hold” from the eight analysts that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $6.00.
A number of analysts have issued reports on NGD shares. ValuEngine downgraded New Gold from a “hold” rating to a “sell” rating in a research note on Wednesday, June 7th. BidaskClub raised New Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, National Bank Financial reaffirmed an “outperform” rating on shares of New Gold in a research note on Sunday, July 23rd.
New Gold (ARCA NGD) opened at 3.88 on Friday. The company has a 50-day moving average price of $3.60 and a 200-day moving average price of $3.13. New Gold has a one year low of $2.39 and a one year high of $4.99. The stock has a market cap of $2.24 billion, a P/E ratio of 40.00 and a beta of 0.19.
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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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