New Gold Inc. (NGD) Receives Consensus Recommendation of “Hold” from Analysts

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) have been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is C$4.92.

A number of research firms have recently commented on NGD. Eight Capital reduced their price objective on shares of New Gold from C$5.25 to C$4.75 in a research note on Friday, February 23rd. Canaccord Genuity increased their price objective on shares of New Gold from C$5.50 to C$6.00 in a research note on Monday, April 23rd. Finally, National Bank Financial reduced their price objective on shares of New Gold from C$6.25 to C$5.50 and set an “outperform” rating for the company in a research note on Friday, April 27th.

TSE NGD traded up C$0.07 on Thursday, reaching C$2.80. The company had a trading volume of 667,205 shares, compared to its average volume of 1,129,151. New Gold has a 1-year low of C$2.68 and a 1-year high of C$5.16.

New Gold (TSE:NGD) (ARCA:NGD) last announced its earnings results on Wednesday, April 25th. The company reported C($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.02 by C($0.06). The company had revenue of C$244.23 million during the quarter, compared to analyst estimates of C$263.66 million. New Gold had a negative return on equity of 32.21% and a negative net margin of 92.82%.

About New Gold

New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the New Afton project located near Kamloops, British Columbia, Canada; the Mesquite mine located in Imperial County, California, the United States; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

Analyst Recommendations for New Gold (TSE:NGD)

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