New Gold’s (NGD) “Sector Perform” Rating Reaffirmed at Royal Bank Of Canada
Royal Bank Of Canada reissued their sector perform rating on shares of New Gold Inc. (TSE:NGD) in a report issued on Friday morning, StockTargetPrices.com reports.
A number of other research analysts have also recently commented on the stock. National Bank Financial upped their target price on shares of New Gold from C$7.00 to C$8.10 and gave the company a sector perform rating in a research report on Thursday, August 4th. Canaccord Genuity raised shares of New Gold from a hold rating to a buy rating and upped their target price for the company from C$6.25 to C$7.75 in a research report on Tuesday, July 12th. Finally, Desjardins raised shares of New Gold from a hold rating to a buy rating in a research report on Friday, September 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of C$5.18.
New Gold (TSE:NGD) traded down 2.10% during mid-day trading on Friday, hitting $5.14. 1,733,067 shares of the stock were exchanged. New Gold has a 12-month low of $2.56 and a 12-month high of $7.87. The company has a 50 day moving average of $6.20 and a 200 day moving average of $5.87. The firm’s market cap is $2.64 billion.
About New Gold
New Gold Inc is a Canada-based intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. The Company has operating mines in Canada, the United States, Australia and Mexico and development projects in Canada. The Company’s segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other.
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