New Gold Inc. (NGD) Given “Buy” Rating at Eight Capital

Eight Capital reiterated their buy rating on shares of New Gold Inc. (TSE:NGD) (ARCA:NGD) in a research note released on Thursday.

Several other brokerages have also recently issued reports on NGD. National Bank Financial boosted their price objective on shares of New Gold from C$5.00 to C$5.25 and gave the company an outperform rating in a research note on Friday, July 28th. Canaccord Genuity boosted their price objective on shares of New Gold from C$4.25 to C$4.75 in a research note on Friday, September 29th. Finally, Scotiabank raised shares of New Gold to a sector perform rating and set a C$5.00 price objective for the company in a research note on Friday, September 29th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of C$5.00.

Shares of New Gold (TSE NGD) traded up C$0.11 on Thursday, reaching C$4.13. The company’s stock had a trading volume of 1,115,659 shares, compared to its average volume of 1,563,620. New Gold has a 52 week low of C$3.11 and a 52 week high of C$5.79.

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

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.

Analyst Recommendations for New Gold (TSE:NGD)

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