Analysts Set New Gold Inc (TSE:NGD) Target Price at C$1.33

New Gold Inc (TSE:NGD) (ARCA:NGD) has been assigned a consensus rating of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and two have given a hold rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$1.42.

NGD has been the topic of several recent analyst reports. National Bank Financial raised their price objective on Yamana Gold from C$4.25 to C$4.50 and gave the company an “outperform” rating in a research note on Tuesday. Canaccord Genuity reaffirmed a “buy” rating on shares of Wheaton Precious Metals in a research report on Friday, July 19th. Finally, Cormark raised their target price on New Gold from C$1.15 to C$1.35 in a research report on Thursday, June 27th.

Shares of New Gold stock traded up C$0.02 on Friday, reaching C$1.85. 1,021,274 shares of the company’s stock were exchanged, compared to its average volume of 1,546,383. The firm has a market cap of $1.10 billion and a P/E ratio of -0.89. New Gold has a 52 week low of C$0.82 and a 52 week high of C$2.03. The business has a 50-day moving average price of C$1.31. The company has a quick ratio of 1.30, a current ratio of 2.35 and a debt-to-equity ratio of 85.97.

New Gold Company Profile

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.

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Analyst Recommendations for New Gold (TSE:NGD)

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