New Gold (TSE:NGD) Downgraded by Eight Capital to Neutral

New Gold (TSE:NGD) (ARCA:NGD) was downgraded by stock analysts at Eight Capital from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, May 10th. They currently have a C$3.50 target price on the stock, down from their previous target price of C$4.25. Eight Capital’s price objective would suggest a potential upside of 17.06% from the company’s current price.

Several other equities analysts have also weighed in on NGD. National Bank Financial reduced their price objective on New Gold from C$6.25 to C$5.50 and set an “outperform” rating on the stock in a research note on Friday, April 27th. Canaccord Genuity lifted their price objective on New Gold from C$5.50 to C$6.00 in a research note on Monday, April 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. New Gold has a consensus rating of “Hold” and a consensus price target of C$4.92.

Shares of TSE:NGD opened at C$2.99 on Thursday. New Gold has a 12-month low of C$2.85 and a 12-month high of C$5.16.

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

New Gold Company Profile

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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