New Gold Inc. (NGD) Receives Consensus Recommendation of “Hold” from Analysts
Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) have earned a consensus recommendation of “Hold” from the fourteen research firms that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, three have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$4.98.
A number of analysts have recently weighed in on the stock. Canaccord Genuity raised their price target on shares of New Gold from C$4.25 to C$4.75 in a research report on Friday, September 29th. Laurentian Bank of Canada reissued a “buy” rating and set a C$4.75 price target on shares of New Gold in a research report on Tuesday, December 19th. Laurentian set a C$4.75 price target on shares of New Gold and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Eight Capital reissued a “buy” rating on shares of New Gold in a research report on Thursday, November 16th. Finally, Scotiabank raised shares of New Gold to a “sector perform” rating and set a C$5.00 price target for the company in a research report on Friday, September 29th.
Shares of New Gold (NGD) traded up C$0.18 during trading hours on Monday, reaching C$4.22. 832,372 shares of the company’s stock traded hands, compared to its average volume of 1,049,842. New Gold has a one year low of C$3.11 and a one year high of C$5.79. The firm has a market capitalization of $2,420.00, a P/E ratio of 35.17 and a beta of -0.28.
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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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