Eight Capital Reiterates Buy Rating for New Gold Inc. (NGD)
New Gold Inc. (TSE:NGD) (ARCA:NGD)‘s stock had its “buy” rating reaffirmed by analysts at Eight Capital in a research report issued to clients and investors on Thursday.
A number of other equities analysts have also recently issued reports on NGD. Canaccord Genuity raised their target price on shares of New Gold from C$4.25 to C$4.75 in a report on Friday, September 29th. Scotiabank raised New Gold to a “sector perform” rating and set a C$5.00 price target on the stock in a report on Friday, September 29th. Finally, National Bank Financial reaffirmed an “outperform market weight” rating on shares of New Gold in a report on Sunday, July 23rd. Three analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of C$5.00.
New Gold (NGD) opened at C$4.13 on Thursday. New Gold has a twelve month low of C$3.11 and a twelve month high of C$5.79.
In other news, Director James Estey sold 28,000 shares of New Gold stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of C$4.77, for a total transaction of C$133,560.00.
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.
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