New Gold (USA) (NGD) is Upgraded by Barclays to Overweight, Raises Price Target to $ 5

New Gold (USA) (NGD) was Upgraded by Barclays to ” Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 5 from a previous price target of $3 . Earlier the firm had a rating of “Equal Weight ” on the company shares. Barclays advised their investors in a research report released on Apr 18, 2016.

Many Wall Street Analysts have commented on New Gold (USA). Company shares were Downgraded by RBC Capital Mkts on Mar 21, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 3.75 from a previous price target of $3 .New Gold (USA) was Upgraded by Desjardins to ” Hold” on Feb 23, 2016. New Gold (USA) was Downgraded by Desjardins to ” Sell” on Feb 2, 2016.

On the company’s financial health, New Gold (USA) reported $0.01 EPS for the quarter, based on the information available during the earnings call on Feb 17, 2016. Analyst had a consensus estimate of $0.01. The company had revenue of $199.00 million for the quarter, compared to analysts expectations of $200.50 million. The company’s revenue was up 5.9% compared to the same quarter last year.

New Gold (USA) opened for trading at $4.1 and hit $4.18 on the upside on Friday, eventually ending the session at $4.15, with a gain of 2.22% or 0.09 points. The heightened volatility saw the trading volume jump to 41,29,449 shares. Company has a market cap of $2,112 M.

New Gold Inc. is a Canada-based intermediate gold mining company engaged in the development and operation of mineral properties. The Company’s assets include New Afton Mine in Canada which is an underground gold?copper deposit; the Mesquite Mine in the United States which is an open pit mine; the Peak Mines in Australia which is an underground gold?copper deposit and the Cerro San Pedro Mine in Mexico which is a gold?silver open pit mine. The Company projects include the Rainy River and Blackwater projects both in Canada and a 30% interest in the El Morro copper?gold project in Chile. Approximately 28% of the Company’s gold revenue is generated from Canada 28% from the United States 26% from Australia and 18% from Mexico and over 70% of its gold reserves are located in Canada.

New Gold  (USA)

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