New Gold Inc (TSE:NGD) (ARCA:NGD)’s share price fell 3.7% during mid-day trading on Friday . The company traded as low as C$1.04 and last traded at C$1.04. 410,890 shares were traded during mid-day trading, a decline of 69% from the average session volume of 1,345,239 shares. The stock had previously closed at C$1.08.
A number of brokerages recently issued reports on NGD. Cormark decreased their target price on shares of New Gold from C$2.50 to C$1.50 in a research report on Friday, September 21st. Eight Capital decreased their target price on shares of New Gold from C$1.75 to C$1.35 in a research report on Thursday, September 20th. Desjardins decreased their target price on shares of New Gold from C$1.25 to C$0.75 and set a “sell” rating for the company in a research report on Tuesday, September 4th. Canaccord Genuity upgraded shares of New Gold from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. Finally, National Bank Financial lowered shares of New Gold from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$2.75 to C$1.70 in a research report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of C$2.57.
New Gold Company Profile (TSE:NGD)
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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