New Gold Inc. (NGD) Given Consensus Recommendation of “Hold” by Brokerages

Shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) have been given an average rating of “Hold” by the seven ratings firms that are currently covering the stock, reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$4.92.

NGD has been the subject of several recent research reports. Eight Capital reduced their target price on shares of New Gold from C$5.25 to C$4.75 in a report on Friday, February 23rd. Canaccord Genuity increased their target price on shares of New Gold from C$5.50 to C$6.00 in a report on Monday, April 23rd. Finally, National Bank Financial reduced their target price on shares of New Gold from C$6.25 to C$5.50 and set an “outperform” rating for the company in a report on Friday, April 27th.

New Gold traded down C$0.01, hitting C$3.07, during trading hours on Friday, according to 548,178 shares of the company’s stock were exchanged, compared to its average volume of 1,159,592. New Gold has a 1-year low of C$2.85 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) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.02 by C($0.06). New Gold had a negative return on equity of 32.21% and a negative net margin of 92.82%. The business had revenue of C$244.23 million for the quarter, compared to analyst estimates of C$263.66 million.

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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