New Gold Inc (NGD) Given Average Rating of “Hold” by Analysts

New Gold Inc (TSE:NGD) (ARCA:NGD) has been given a consensus recommendation of “Hold” by the ten analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is C$2.76.

A number of research firms have commented on NGD. Cormark decreased their price objective on shares of New Gold from C$2.50 to C$1.50 in a report on Friday, September 21st. BMO Capital Markets decreased their price objective on shares of New Gold from C$4.50 to C$2.25 in a report on Friday, July 27th. Eight Capital decreased their price objective on shares of New Gold from C$1.75 to C$1.35 in a report on Thursday, September 20th. Beacon Securities downgraded shares of New Gold from a “buy” rating to a “hold” rating in a report on Friday, July 27th. Finally, National Bank Financial decreased their price objective on shares of New Gold from C$5.50 to C$4.50 in a report on Saturday, July 14th.

New Gold stock traded down C$0.02 during mid-day trading on Friday, reaching C$0.99. The company’s stock had a trading volume of 849,927 shares, compared to its average volume of 1,356,775. New Gold has a twelve month low of C$0.97 and a twelve month high of C$5.03.

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.

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Analyst Recommendations for New Gold (TSE:NGD)

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