Brokerages Set New Gold Inc. (NGD) Target Price at $5.00

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) have received an average recommendation of “Hold” from the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$5.00.

Several equities research analysts have recently issued reports on NGD shares. Scotiabank raised New Gold to a “sector perform” rating and set a C$5.00 price objective for the company in a research note on Friday, September 29th. Canaccord Genuity raised New Gold from a “hold” rating to a “buy” rating and raised their price objective for the company from C$4.75 to C$5.75 in a research note on Friday, October 20th. Finally, Eight Capital reaffirmed a “buy” rating on shares of New Gold in a research note on Thursday, November 16th.

In other news, Director James Estey sold 28,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of C$4.77, for a total value of C$133,560.00.

New Gold (NGD) traded up C$0.02 during trading hours on Friday, hitting C$3.98. The stock had a trading volume of 607,877 shares, compared to its average volume of 1,526,401. New Gold has a 1-year low of C$3.11 and a 1-year high of C$5.79.

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New Gold Company Profile

New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.

Analyst Recommendations for New Gold (TSE:NGD)

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