New Gold Inc. (TSE:NGD) (ARCA:NGD)’s share price was down 2.1% during trading on Monday . The stock traded as low as C$4.25 and last traded at C$4.26. Approximately 405,988 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 978,335 shares. The stock had previously closed at C$4.35.
A number of equities research analysts recently issued reports on NGD shares. Canaccord Genuity increased their price target on New Gold from C$4.25 to C$4.75 in a research report on Friday, September 29th. Laurentian Bank of Canada reissued a “buy” rating and set 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 New Gold and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Eight Capital reissued a “buy” rating on shares of New Gold in a research report on Thursday, November 16th. Finally, Scotiabank raised New Gold to a “sector perform” rating and set a C$5.00 price target on the stock in a research report on Friday, September 29th. 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 stock. The company presently has an average rating of “Hold” and an average target price of C$4.95.
The stock has a market capitalization of $2,260.00, a P/E ratio of 32.25 and a beta of -0.28.
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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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