Price Target Update on NEW GOLD (NYSEMKT:NGD)

NEW GOLD (NYSEMKT:NGD) : The highest level NEW GOLD (NYSEMKT:NGD) is projected to reach is $5 for the short term and the lowest estimate is at $4. The consolidated price target from 7 rating analysts who initiate coverage on the stock is $4.43 and the possibility the share price can swing is $0.69.

Other Equity analysts have also commented on the company shares. Major Brokerage house, Barclays upgrades its ratings on NEW GOLD (NYSEMKT:NGD). In the latest research report, Barclays raises the target price from $3 per share to $5 per share. According to the latest information available, the shares are now rated Overweight by the analysts at the agency. Previously, the analysts had a Equal-weight rating on the shares. The rating by the firm was issued on April 18, 2016.

NEW GOLD (NYSEMKT:NGD): On Thursdays trading session , Opening price of the stock was $4.1 with an intraday high of $4.14. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $4.03. However, the stock managed to close at $4.11, a loss of 0.48% for the day. On the previous day, the stock had closed at $4.13. The total traded volume of the day was 2,805,929 shares.

The company shares have rallied 43.40% from its 1 Year high price. On May 16, 2016, the shares registered one year high at $4.85 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $4.18 and the 200 Day Moving Average price is recorded at $3.42.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.