Laurentian Bank of Canada Reaffirms “Buy” Rating for New Gold (NGD)
New Gold (TSE:NGD) (ARCA:NGD)‘s stock had its “buy” rating reiterated by Laurentian Bank of Canada in a research report issued to clients and investors on Tuesday. They presently have a C$4.75 price objective on the stock. Laurentian Bank of Canada’s price objective would indicate a potential upside of 19.35% from the stock’s previous close.
Several other analysts have also recently weighed in on NGD. Laurentian set a C$4.75 price target on New Gold and gave the stock a “buy” rating in a report on Tuesday. Canaccord Genuity boosted their price target on New Gold from C$4.25 to C$4.75 in a report on Friday, September 29th. Scotiabank upgraded New Gold to a “sector perform” rating and set a C$5.00 price target on the stock in a report on Friday, September 29th. Desjardins restated a “sell” rating on shares of New Gold in a report on Monday, December 11th. Finally, Eight Capital restated a “buy” rating on shares of New Gold in a report on Thursday, November 16th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of C$4.95.
New Gold (NGD) traded up C$0.16 during trading hours on Tuesday, hitting C$3.98. The stock had a trading volume of 658,191 shares, compared to its average volume of 1,485,307. New Gold has a 52 week low of C$3.11 and a 52 week high of C$5.79.
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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.
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