New Gold (NGD) Stock Price Down 7.4%

New Gold Inc. (TSE:NGD) (ARCA:NGD) dropped 7.4% during mid-day trading on Friday . The company traded as low as C$3.21 and last traded at C$3.24. Approximately 680,300 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 1,147,797 shares. The stock had previously closed at C$3.50.

A number of research analysts recently weighed in on NGD shares. Canaccord Genuity dropped their price objective on shares of New Gold from C$5.75 to C$5.50 in a report on Friday, January 19th. Eight Capital dropped their price objective on shares of New Gold from C$5.50 to C$5.00 in a report on Thursday, January 18th. Laurentian Bank of Canada restated a “buy” rating and issued a C$4.75 price objective on shares of New Gold in a report on Tuesday, December 19th. Laurentian set a C$4.75 price objective on shares of New Gold and gave the company a “buy” rating in a report on Tuesday, December 19th. Finally, Desjardins restated a “sell” rating on shares of New Gold in a report on Monday, December 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of C$5.10.

The stock has a market cap of $1,900.00, a price-to-earnings ratio of 27.33 and a beta of -0.27.

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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.

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