Canaccord Genuity Raises New Gold (NGD) Price Target to C$6.00

New Gold (TSE:NGD) (ARCA:NGD) had its price objective lifted by stock analysts at Canaccord Genuity from C$5.50 to C$6.00 in a report released on Monday. Canaccord Genuity’s target price indicates a potential upside of 92.93% from the stock’s previous close.

Separately, Eight Capital dropped their target price on shares of New Gold from C$5.50 to C$5.00 in a research report on Thursday, January 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of C$5.32.

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Shares of New Gold stock traded down C$0.03 on Monday, hitting C$3.11. 525,156 shares of the company’s stock traded hands, compared to its average volume of 1,128,472. New Gold has a one year low of C$2.85 and a one year high of C$5.16.

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

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About New Gold

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.

Analyst Recommendations for New Gold (TSE:NGD)

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