Eight Capital Trims New Gold (NGD) Target Price to C$1.30

New Gold (TSE:NGD) (ARCA:NGD) had its target price trimmed by Eight Capital from C$1.65 to C$1.30 in a research note released on Friday.

A number of other brokerages also recently issued reports on NGD. BMO Capital Markets upped their price target on New Gold from C$1.25 to C$1.50 in a report on Wednesday, January 9th. National Bank Financial upped their price target on New Gold from C$1.70 to C$1.80 and gave the company a sector perform rating in a report on Monday, January 14th. Laurentian upped their price target on New Gold from C$1.15 to C$1.25 in a report on Friday. Finally, Canaccord Genuity lowered their price target on New Gold from C$1.50 to C$1.10 in a report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. New Gold has an average rating of Hold and an average price target of C$1.24.

Shares of NGD opened at C$1.12 on Friday. The company has a debt-to-equity ratio of 81.36, a current ratio of 2.22 and a quick ratio of 1.11. The company has a market capitalization of $648.20 million and a P/E ratio of -0.53. New Gold has a 52-week low of C$0.90 and a 52-week high of C$3.44.

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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