Analyst Rating Update on NEW GOLD (NGD)

NEW GOLD (NGD) : Zacks Investment Research ranks NEW GOLD (NGD) as 1, which is a Strong Buy recommendation. 1 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 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 10 research analysts is 2.8, which indicates as a Hold.

NEW GOLD (NGD) : Currently there are 8 street experts covering NEW GOLD (NGD) stock. The most bullish and bearish price target for the stock is $7 and $4 respectively for the short term. The average price target of all the analysts comes to $5.11. The estimated standard deviation from the target is $1.08.

Company shares have received an average consensus rating of Hold for the current week


NEW GOLD (NYSEMKT:NGD): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.57 and $5.37 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.63. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.61, notching a gain of 0.36% for the day. The total traded volume was 6,072,484 . The stock had closed at $5.59 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.

Leave a Reply

Get Pre-Market Alerts!

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