New Gold Inc. (TSE:NGD) receives an average rating of “Hold” by brokerages

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New Gold Inc. (TSE:NGD – Get Rating) (ARCA:NGD) received an average recommendation of “Hold” from the eleven analysts who cover the company, Marketbeat reports. Six research analysts rated the stock with a hold rating and one gave the company a buy rating. The 12-month average target price among analysts who have reported on the stock in the past year is C$1.92.

A number of equity research analysts have recently released NGD stock reports. Credit Suisse Group cut its price target on New Gold from CA$1.40 to CA$1.10 in a Tuesday, July 12 report. National Bankshares cut its price target on New Gold from C$2.50 to C$1.50 and set an “industry performance” rating for the company in a report released Tuesday, July 12. Cormark cut its price target on New Gold from C$2.25 to C$1.00 and set an “industry performance” rating for the company in a report on Wednesday. BMO Capital Markets cut its price target on New Gold from C$3.00 to C$2.00 in a report released Wednesday. Finally, CSFB reduced its price target on New Gold from CA$1.40 to CA$1.10 in a Tuesday, July 12 research note.

New gold price performance

Shares of TSE NGD opened at C$0.91 on Friday. The company’s 50-day moving average price is C$1.54 and its two-hundred-day moving average price is C$1.94. The company has a market capitalization of C$620.71 million and a PE ratio of 4.14. The company has a quick ratio of 3.64, a current ratio of 4.37 and a debt ratio of 54.59. New Gold has a 12-month low of C$0.88 and a 12-month high of C$2.57.

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New Gold (TSE:NGD – Get Rating) (ARCA:NGD) last released its quarterly earnings data on Monday, May 2. The company reported earnings per share (EPS) of C$0.02 for the quarter, meeting analyst consensus estimates of C$0.02. The company had revenue of C$221.30 million for the quarter. On average, analysts predict that New Gold will post 0.21 EPS for the current year.

About New Gold

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New Gold Inc, a mid-tier gold mining company, is engaged in the exploration, development and operation of mineral properties. He mainly explores gold, silver and copper deposits. The Company’s principal operating properties include a 100% interest in the Rainy River mine located in Ontario, Canada; and the New Afton Mine located in British Columbia, Canada.

Further reading

Analyst Recommendations for New Gold (TSE:NGD)

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