Analysts Set New Gold Inc. (NGD) PT at $5.29

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) have earned an average recommendation of “Buy” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is C$5.29.

A number of analysts recently issued reports on NGD shares. Eight Capital decreased their price objective on shares of New Gold from C$5.25 to C$4.75 in a report on Friday, February 23rd. Canaccord Genuity cut their target price on shares of New Gold from C$5.75 to C$5.50 in a research report on Friday, January 19th. Laurentian set a C$4.75 target price on shares of New Gold and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Laurentian Bank of Canada reiterated a “buy” rating and set a C$4.75 target price on shares of New Gold in a research report on Tuesday, December 19th. Finally, Desjardins reiterated a “sell” rating on shares of New Gold in a research report on Monday, December 11th.

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Shares of NGD stock opened at C$3.41 on Friday. New Gold has a one year low of C$2.98 and a one year high of C$5.16.

New Gold (TSE:NGD) (ARCA:NGD) last announced its earnings results on Tuesday, February 20th. The company reported C$0.02 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of C$0.02. The company had revenue of C$245.76 million during the quarter. New Gold had a negative net margin of 92.82% and a negative return on equity of 32.21%.

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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.

Analyst Recommendations for New Gold (TSE:NGD)

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