New Gold Inc. (NGD) Receives Consensus Rating of “Hold” from Brokerages
New Gold Inc. (TSE:NGD) (ARCA:NGD) has been assigned a consensus rating of “Hold” from the eleven analysts that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$4.89.
Several brokerages have recently weighed in on NGD. National Bank Financial increased their price target on New Gold from C$5.00 to C$5.25 and gave the company an “outperform” rating in a research note on Friday, July 28th. Canaccord Genuity increased their price target on New Gold from C$4.25 to C$4.75 in a research note on Friday, September 29th. Finally, Scotiabank raised New Gold to a “sector perform” rating and set a C$5.00 price target for the company in a research note on Friday, September 29th.
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In related news, Director James Estey sold 28,000 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of C$4.77, for a total transaction of C$133,560.00.
Shares of New Gold (TSE NGD) traded up 3.35% during trading on Friday, reaching $4.94. The company’s stock had a trading volume of 1,004,487 shares. New Gold has a 12 month low of $3.11 and a 12 month high of $6.09. The firm has a market cap of $2.85 billion and a PE ratio of 50.93. The company’s 50 day moving average price is $4.64 and its 200 day moving average price is $4.18.
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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