Eight Capital reaffirmed their buy rating on shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) in a research note published on Thursday.
A number of other equities research analysts also recently issued reports on the company. Canaccord Genuity upgraded New Gold from a hold rating to a buy rating and increased their price objective for the stock from C$4.75 to C$5.75 in a research report on Friday, October 20th. National Bank Financial increased their price objective on New Gold from C$5.00 to C$5.25 and gave the stock an outperform rating in a research report on Friday, July 28th. Finally, Scotiabank upgraded New Gold to a sector perform rating and set a C$5.00 price objective on the stock in a research report on Friday, September 29th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. New Gold presently has an average rating of Hold and an average price target of C$5.00.
Shares of New Gold (TSE NGD) opened at C$4.13 on Thursday. New Gold has a 12-month low of C$3.11 and a 12-month high of C$5.79.
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In related news, Director James Estey sold 28,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of C$4.77, for a total value 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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