New Gold (NGD) Reaches New 12-Month Low at $2.98

New Gold Inc. (TSE:NGD) (ARCA:NGD) hit a new 52-week low on Tuesday . The stock traded as low as C$2.98 and last traded at C$2.99, with a volume of 3531142 shares traded. The stock had previously closed at C$3.09.

NGD has been the topic of several research reports. Eight Capital reduced their price target on shares of New Gold from C$5.25 to C$4.75 in a research report on Friday, February 23rd. Canaccord Genuity reduced their price target on shares of New Gold from C$5.75 to C$5.50 in a research report on Friday, January 19th. Laurentian Bank of Canada restated a “buy” rating and issued a C$4.75 price target on shares of New Gold in a research report on Tuesday, December 19th. Laurentian set a C$4.75 price target on shares of New Gold and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Finally, Desjardins restated a “sell” rating on shares of New Gold in a research report on Monday, December 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of C$5.29.

New Gold (TSE:NGD) (ARCA:NGD) last announced its quarterly earnings results on Tuesday, February 20th. The company reported C$0.02 earnings per share for the quarter, hitting the consensus estimate of C$0.02. New Gold had a negative net margin of 92.82% and a negative return on equity of 32.21%. The company had revenue of C$245.76 million for the quarter.

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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 New Afton project located near Kamloops, British Columbia, Canada; the Mesquite mine located in Imperial County, California, the United States; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

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