New Gold (NGD) Price Target Lowered to C$5.00 at Eight Capital
New Gold (TSE:NGD) (ARCA:NGD) had its price target lowered by Eight Capital from C$5.50 to C$5.00 in a research report issued to clients and investors on Thursday. Eight Capital’s price target indicates a potential upside of 28.21% from the company’s previous close.
Other equities analysts have also recently issued reports about the stock. Canaccord Genuity raised their price target on shares of New Gold from C$4.25 to C$4.75 in a research note on Friday, September 29th. Laurentian Bank of Canada reaffirmed a “buy” rating and set a C$4.75 price target on shares of New Gold in a research note 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 note on Tuesday, December 19th. 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 note on Friday, September 29th. Finally, Desjardins reaffirmed a “sell” rating on shares of New Gold in a research note on Monday, December 11th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of C$4.96.
New Gold (TSE:NGD) traded down C$0.07 during midday trading on Thursday, reaching C$3.90. The company had a trading volume of 1,439,164 shares, compared to its average volume of 1,061,648. New Gold has a twelve month low of C$3.11 and a twelve month high of C$5.79. The company has a market cap of $2,290.00, a PE ratio of 32.50 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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