New Gold Inc (NYSEAMERICAN:NGD) has received a consensus recommendation of “Hold” from the ten analysts that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $1.53.
Several research analysts have commented on the company. Zacks Investment Research downgraded New Gold from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 28th. Credit Suisse Group downgraded New Gold from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $2.20 to $1.60 in a research note on Thursday, July 26th. Scotiabank downgraded New Gold from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 8th. Canaccord Genuity downgraded New Gold from a “buy” rating to a “sell” rating in a research note on Thursday, July 26th. Finally, Raymond James lowered their target price on New Gold from $3.00 to $2.00 and set a “market perform” rating for the company in a research note on Friday, July 27th.
NGD traded up $0.02 on Friday, hitting $0.79. 2,349,438 shares of the stock were exchanged, compared to its average volume of 4,758,832. New Gold has a 12 month low of $0.75 and a 12 month high of $3.78. The company has a quick ratio of 1.38, a current ratio of 2.28 and a debt-to-equity ratio of 0.42.
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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