New Gold (TSE:NGD) (ARCA:NGD) had its price target dropped by Canaccord Genuity from C$5.75 to C$5.50 in a note issued to investors on Friday. Canaccord Genuity’s price target suggests a potential upside of 41.75% from the stock’s previous close.
A number of other research firms also recently commented on NGD. Scotiabank raised New Gold to a “sector perform” rating and set a C$5.00 target price for the company in a report on Friday, September 29th. Laurentian set a C$4.75 target price on New Gold and gave the stock a “buy” rating in a report on Tuesday, December 19th. Laurentian Bank of Canada reissued a “buy” rating and issued a C$4.75 price target on shares of New Gold in a report on Tuesday, December 19th. Eight Capital reissued a “buy” rating on shares of New Gold in a report on Thursday, November 16th. Finally, Desjardins reissued a “sell” rating on shares of New Gold in a report on Monday, December 11th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of C$4.94.
Shares of New Gold (TSE NGD) opened at C$3.88 on Friday. New Gold has a twelve month low of C$3.11 and a twelve month high of C$5.79. The company has a market capitalization of $2,230.00, a PE ratio of 32.33 and a beta of -0.28.
New Gold (TSE:NGD) (ARCA:NGD) last released its earnings results on Wednesday, October 25th. The company reported C$0.01 EPS for the quarter, hitting the Zacks’ consensus estimate of C$0.01. New Gold had a return on equity of 5.05% and a net margin of 20.49%.
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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.
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