New Gold Inc (NGD) Receives Consensus Recommendation of “Hold” from Analysts

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New Gold Inc (TSE:NGD) (ARCA:NGD) has earned an average rating of “Hold” from the eight analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and one has given a hold recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is C$1.27.

Several equities analysts recently issued reports on NGD shares. BMO Capital Markets raised their price target on New Gold from C$1.25 to C$1.50 in a report on Wednesday, January 9th. National Bank Financial raised 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. Eight Capital set a C$1.65 price target on New Gold and gave the company a “neutral” rating in a report on Friday, February 1st. Laurentian raised their price target on New Gold from C$1.15 to C$1.25 in a report on Friday, February 15th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a C$1.15 price target on shares of New Gold in a report on Monday, March 25th.

New Gold stock traded down C$0.03 during mid-day trading on Wednesday, hitting C$1.18. The stock had a trading volume of 233,970 shares, compared to its average volume of 1,455,181. The stock has a market cap of $683.36 million and a price-to-earnings ratio of -0.56. New Gold has a 12 month low of C$0.90 and a 12 month high of C$3.24. The company has a quick ratio of 1.11, a current ratio of 2.22 and a debt-to-equity ratio of 81.36.

New Gold (TSE:NGD) (ARCA:NGD) last posted its quarterly earnings results on Thursday, February 14th. The company reported C$0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of C($0.01) by C$0.06. The firm had revenue of C$208.05 million during the quarter, compared to the consensus estimate of C$236.19 million. As a group, sell-side analysts expect that New Gold will post -0.00999999916666674 EPS for the current year.

New Gold Company Profile

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 Rainy River project located in Ontario, Canada; the New Afton project located near Kamloops, British Columbia, Canada; 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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