New Gold Inc. (NGD) Stock Price Down 4.2%
New Gold Inc. (TSE:NGD) (ARCA:NGD) traded down 4.2% on Thursday . The company traded as low as C$4.25 and last traded at C$4.34. 1,225,451 shares changed hands during trading, an increase of 13% from the average session volume of 1,080,960 shares. The stock had previously closed at C$4.53.
A number of equities research analysts recently weighed in on the company. National Bank Financial upped their price objective on New Gold from C$5.00 to C$5.25 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Canaccord Genuity upped their price objective on New Gold from C$4.25 to C$4.75 in a research note on Friday, September 29th. Finally, Scotiabank upgraded New Gold to a “sector perform” rating and set a C$5.00 price objective for the company in a research note on Friday, September 29th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of C$5.00.
The firm has a 50 day moving average price of $4.68 and a 200 day moving average price of $4.23. The company has a market capitalization of $2.57 billion and a PE ratio of 45.98.
In related news, Director James Estey sold 28,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of C$4.77, for a total transaction of C$133,560.00.
New Gold Company Profile
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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