NEW GOLD (NGD) : The consensus on NEW GOLD (NGD) based on 10 analyst recommendation on the company stock is 2.9, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 1 which endorses a Strong Buy on the stock. However, 1 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 7 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.
NEW GOLD (NGD) : The consensus price target for NEW GOLD (NGD) is $5.16 for the short term with a standard deviation of $1.05. The most optimist securities analyst among the 8 who monitor the stock believes that the stock can reach $6, however, the pessimist price target for the company is $4.
Also, Desjardins downgrades their rating on the shares of NEW GOLD (NYSEMKT:NGD). The current rating of the shares is Hold. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on September 8, 2016.
NEW GOLD (NYSEMKT:NGD): The stock opened in the green at $4.58 on Thursday, but the bulls found it difficult to push the prices higher. The stock reached a high of $4.62 and a low of $4.46 for the day. The stock did not find buyers even at the lows and closed at $4.5 recording a loss of -2.39%. 6,368,859 shares exchanged hands during the trading day. The stock had closed at $4.61 in the previous days trading.
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.