New Gold (NGD) Sets New 52-Week Low at $2.75

New Gold Inc. (TSE:NGD) (ARCA:NGD)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$2.75 and last traded at C$2.79, with a volume of 1215327 shares changing hands. The stock had previously closed at C$2.79.

NGD has been the subject of a number of recent research reports. Eight Capital dropped their price objective on shares of New Gold from C$5.25 to C$4.75 in a research note on Friday, February 23rd. Canaccord Genuity increased their price objective on shares of New Gold from C$5.50 to C$6.00 in a research note on Monday, April 23rd. Finally, 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 for the company in a research note on Friday, April 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. New Gold presently has an average rating of “Hold” and a consensus price target of C$4.92.

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

New Gold Company Profile

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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