New Gold (NGD) Sets New 1-Year Low at $2.96

New Gold Inc. (TSE:NGD) (ARCA:NGD) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$2.96 and last traded at C$2.97, with a volume of 108477 shares traded. The stock had previously closed at C$3.01.

Several research analysts have recently issued reports on the stock. Canaccord Genuity dropped their price objective on shares of New Gold from C$5.75 to C$5.50 in a report on Friday, January 19th. National Bank Financial dropped their price objective on shares of New Gold from C$6.25 to C$5.50 and set an “outperform” rating on the stock in a report on Friday, April 27th. Finally, Eight Capital downgraded shares of New Gold from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from C$4.25 to C$3.50 in a report on Thursday, May 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of C$4.92.

New Gold (TSE:NGD) (ARCA:NGD) last posted its earnings results on Wednesday, April 25th. The company reported C($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.02 by C($0.06). The business had revenue of C$244.23 million during the quarter, compared to the consensus estimate of C$263.66 million. New Gold had a negative net margin of 92.82% and a negative return on equity of 32.21%.

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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