New Gold Inc (TSE:NGD) Given Average Recommendation of “Hold” by Analysts

Shares of New Gold Inc (TSE:NGD) (ARCA:NGD) have been assigned a consensus rating of “Hold” from the eight analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating and two have given a hold rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is C$1.33.

Several equities research analysts recently issued reports on NGD shares. Cormark lifted their price target on shares of New Gold from C$1.15 to C$1.35 in a report on Thursday, June 27th. Canaccord Genuity lifted their price target on shares of Yamana Gold from C$4.75 to C$5.25 in a report on Friday. Finally, National Bank Financial lowered shares of Detour Gold to a “hold” rating in a report on Friday, June 28th.

Shares of New Gold stock traded up C$0.01 during midday trading on Friday, hitting C$1.85. 1,792,914 shares of the company traded hands, compared to its average volume of 1,516,941. The stock has a market capitalization of $1.01 billion and a PE ratio of -0.89. The company has a debt-to-equity ratio of 85.97, a quick ratio of 1.30 and a current ratio of 2.35. The business has a fifty day simple moving average of C$1.15. New Gold has a 12 month low of C$0.82 and a 12 month high of C$2.54.

About New Gold

New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the Rainy River project located in Ontario, Canada; the New Afton project located near Kamloops, British Columbia, Canada; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

Further Reading: What is the Bid-Ask Spread?

Analyst Recommendations for New Gold (TSE:NGD)

Receive News & Ratings for New Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Gold and related companies with MarketBeat.com's FREE daily email newsletter.