New Gold Inc. (ARCA:NGD) Receives $6.00 Average Target Price from Analysts

Shares of New Gold Inc. (ARCA:NGD) have received a consensus recommendation of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $6.00.

A number of research analysts recently issued reports on the stock. National Bank Financial reiterated an “outperform” rating on shares of New Gold in a research note on Sunday, July 23rd. BidaskClub upgraded shares of New Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, ValuEngine upgraded shares of New Gold from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th.

New Gold (ARCA NGD) opened at 3.42 on Friday. The firm’s 50-day moving average is $3.15 and its 200-day moving average is $3.03. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 35.26 and a beta of 0.24. New Gold has a 52 week low of $2.39 and a 52 week high of $5.87.

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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 (ARCA:NGD)

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