New Gold (NGD) Lifted to Hold at Canaccord Genuity
New Gold (NYSEAMERICAN:NGD) was upgraded by analysts at Canaccord Genuity from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, The Fly reports.
A number of other analysts also recently weighed in on NGD. Zacks Investment Research downgraded shares of New Gold from a “hold” rating to a “strong sell” rating in a report on Thursday, June 28th. Scotiabank downgraded shares of New Gold from an “outperform” rating to a “sector perform” rating in a report on Wednesday, August 8th. Royal Bank of Canada cut shares of New Gold from a “sector perform” rating to an “underperform” rating and lowered their price objective for the stock from $3.50 to $1.40 in a research report on Wednesday, August 15th. JPMorgan Chase & Co. cut shares of New Gold from a “neutral” rating to an “underweight” rating in a research report on Wednesday, August 8th. Finally, National Bank Financial cut shares of New Gold from an “outperform spec overweight” rating to a “sector perform spec overwgt” rating in a research report on Wednesday, August 8th. Five analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $2.42.
NYSEAMERICAN NGD opened at $1.00 on Monday. The company has a quick ratio of 1.38, a current ratio of 2.28 and a debt-to-equity ratio of 0.42. New Gold has a 12-month low of $0.98 and a 12-month high of $4.25.
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.
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