New Gold Inc. (NGD) Receives Consensus Recommendation of “Hold” from Analysts

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) have received an average rating of “Hold” from the twelve research firms that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is C$5.00.

NGD has been the subject of a number of research reports. Canaccord Genuity lifted their target price on shares of New Gold from C$4.25 to C$4.75 in a research report on Friday, September 29th. Eight Capital restated a “buy” rating on shares of New Gold in a research report on Thursday, November 16th. Finally, Scotiabank raised shares of New Gold to a “sector perform” rating and set a C$5.00 price objective for the company in a research report on Friday, September 29th.

In other news, Director James Estey sold 28,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of C$4.77, for a total value of C$133,560.00.

Shares of New Gold (TSE:NGD) traded down C$0.10 on Friday, reaching C$4.03. 484,255 shares of the company’s stock were exchanged, compared to its average volume of 981,596. New Gold has a one year low of C$3.11 and a one year 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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