New Gold (NGD) Lowered to Sector Perform Spec Overwgt at National Bank Financial
A number of other equities analysts have also weighed in on the stock. Raymond James cut their target price on shares of New Gold from $3.00 to $2.00 and set a market perform rating for the company in a research report on Friday, July 27th. Canaccord Genuity lowered shares of New Gold from a buy rating to a sell rating in a research report on Thursday, July 26th. TD Securities lowered shares of New Gold from a buy rating to a hold rating and cut their price objective for the company from $4.50 to $2.50 in a research report on Wednesday, June 20th. Scotiabank upgraded shares of New Gold from a sector perform rating to an outperform rating and set a $4.00 price objective for the company in a research report on Thursday, May 10th. Finally, Credit Suisse Group lowered shares of New Gold from a neutral rating to an underperform rating and cut their price objective for the company from $2.20 to $1.60 in a research report on Thursday, July 26th. Five investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $2.85.
New Gold traded down $0.02, reaching $1.12, during trading hours on Wednesday, according to MarketBeat. 3,071,824 shares of the company were exchanged, compared to its average volume of 5,039,303. New Gold has a 1 year low of $1.11 and a 1 year high of $4.25. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.38 and a current ratio of 2.28.
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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