Brokerages Set New Gold Inc. (NGD) Price Target at $4.62

New Gold Inc. (TSE:NGD) (ARCA:NGD) has received an average rating of “Hold” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$4.69.

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Several equities research analysts have commented on NGD shares. Scotiabank reaffirmed a “sector perform” rating and issued a C$4.00 price target on shares of New Gold in a report on Wednesday, April 26th. TD Securities reiterated a “buy” rating and issued a C$7.00 price objective on shares of New Gold in a research report on Friday, April 28th. Finally, National Bank Financial upped their price objective on shares of New Gold from C$5.00 to C$5.25 and gave the stock an “outperform” rating in a research report on Friday, July 28th.

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New Gold (TSE NGD) remained flat at $4.38 during midday trading on Monday. The company had a trading volume of 217,556 shares. The stock has a 50 day moving average of $3.99 and a 200-day moving average of $4.01. New Gold has a 12-month low of $3.11 and a 12-month high of $7.64. The firm has a market cap of $2.52 billion and a PE ratio of 45.15.

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.