New Gold Inc. (NGD) Given Average Rating of “Buy” by Brokerages

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) have earned a consensus recommendation of “Buy” from the eight analysts that are covering the company, reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is C$5.29.

Several equities research analysts have recently issued reports on NGD shares. Eight Capital restated a “buy” rating on shares of New Gold in a report on Thursday, November 16th. Desjardins restated a “sell” rating on shares of New Gold in a report on Monday, December 11th. Laurentian set a C$4.75 price objective on New Gold and gave the stock a “buy” rating in a report on Tuesday, December 19th. Laurentian Bank of Canada restated a “buy” rating and set a C$4.75 price objective on shares of New Gold in a report on Tuesday, December 19th. Finally, Canaccord Genuity reduced their target price on New Gold from C$5.75 to C$5.50 in a report on Friday, January 19th.

New Gold (TSE NGD) traded down C$0.03 during mid-day trading on Tuesday, hitting C$3.34. The stock had a trading volume of 805,010 shares, compared to its average volume of 1,154,791. New Gold has a 1-year low of C$3.16 and a 1-year high of C$5.16. The firm has a market capitalization of $1,960.00, a PE ratio of -15.09 and a beta of -0.13.

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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.

Analyst Recommendations for New Gold (TSE:NGD)

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