New Gold Inc. (NGD) Receives Consensus Recommendation of “Hold” from Brokerages
New Gold Inc. (TSE:NGD) has earned an average recommendation of “Hold” from the eleven ratings firms that are presently covering the company. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$5.54.
A number of equities research analysts have recently issued reports on NGD shares. Desjardins reduced their price target on shares of New Gold from C$7.00 to C$6.25 in a research note on Thursday, October 20th. National Bank Financial reduced their price target on shares of New Gold from C$8.10 to C$7.75 in a research note on Thursday, September 8th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of New Gold in a research note on Friday, October 7th.
New Gold (TSE:NGD) opened at 4.96 on Tuesday. The stock has a market cap of $2.55 billion and a PE ratio of 248.00. New Gold has a 12-month low of $2.56 and a 12-month high of $7.87. The firm has a 50 day moving average of $5.44 and a 200-day moving average of $5.90.
In other New Gold news, insider Mark Alexander Petersen sold 176,667 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of C$5.52, for a total transaction of C$975,201.84.
About New Gold
New Gold Inc is a Canada-based intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. The Company has operating mines in Canada, the United States, Australia and Mexico and development projects in Canada. The Company’s segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other.
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