Laurentian Reiterates C$4.75 Price Target for New Gold (TSE:NGD)

New Gold (TSE:NGD) (ARCA:NGD) has been assigned a C$4.75 price target by research analysts at Laurentian in a report issued on Tuesday, December 19th. The firm currently has a “buy” rating on the stock. Laurentian’s price objective would indicate a potential upside of 17.57% from the stock’s current price.

A number of other analysts have also issued reports on NGD. Canaccord Genuity increased their price target on shares of New Gold from C$4.25 to C$4.75 in a research report on Friday, September 29th. Scotiabank upgraded 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. Eight Capital restated a “buy” rating on shares of New Gold in a research note on Thursday, November 16th. Finally, Desjardins reaffirmed a “sell” rating on shares of New Gold in a research report on Monday, December 11th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. New Gold presently has an average rating of “Hold” and an average target price of C$4.95.

New Gold (NGD) traded up C$0.06 during mid-day trading on Tuesday, reaching C$4.04. 1,262,624 shares of the company’s stock were exchanged, compared to its average volume of 1,077,026. The stock has a market capitalization of $2,310.00, a price-to-earnings ratio of 33.67 and a beta of -0.28. New Gold has a 52 week low of C$3.11 and a 52 week high of C$5.79.

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New Gold Company Profile

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 (TSE:NGD)

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