New Gold Inc. (NGD) Receives C$5.00 Consensus Target Price from Analysts

New Gold Inc. (TSE:NGD) (ARCA:NGD) has received an average rating of “Hold” from the eleven research firms that are presently covering the company, Marketbeat reports. 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 on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is C$5.00.

Several equities research analysts have commented on the company. National Bank Financial boosted 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 target on New Gold from C$4.25 to C$4.75 in a research report on Friday, September 29th. Finally, Scotiabank upgraded New Gold to a “sector perform” rating and set a C$5.00 price target for the company in a research report on Friday, September 29th.

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New Gold (TSE:NGD) traded up C$0.13 on Wednesday, reaching C$4.34. 356,709 shares of the company traded hands, compared to its average volume of 1,070,000. New Gold has a 1-year low of C$3.11 and a 1-year high of C$6.09.

In related news, Director James Estey sold 28,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of C$4.77, for a total value of C$133,560.00.

About New Gold

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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