Short Term Price Target on NEW GOLD (NGD)

NEW GOLD (NYSEMKT:NGD) : The most positive equity analysts on NEW GOLD (NYSEMKT:NGD) expects the shares to touch $6, whereas, the least positive believes that the stock will trade at $4 in the short term. The company is covered by 7 Wall Street Brokerage Firms. The average price target for shares are $4.78 with an expected fluctuation of $0.87 from the mean.

Shares of New Gold, Inc. rose by 6.57% in the last five trading days and 17.11% for the last 4 weeks. New Gold, Inc. is up 16.18% in the last 3-month period. Year-to-Date the stock performance stands at 88.79%.

NEW GOLD (NYSEMKT:NGD) : Zacks Investment Research ranks NEW GOLD (NYSEMKT:NGD) as 3, which is a Hold recommendation. 1 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. 1 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 6 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 9 research analysts is 2.89, which indicates as a Hold.

NEW GOLD (NYSEMKT:NGD): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $4.36 and $4.31 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $4.48. The buying momentum continued till the end and the stock did not give up its gains. It closed at $4.38, notching a gain of 1.15% for the day. The total traded volume was 4,230,022 . The stock had closed at $4.33 on the previous day.

New Gold Inc. is a Canada-based intermediate gold mining company engaged in the development and operation of mineral properties. The Companys 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 Companys 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.

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