What Will Happen to New Gold Inc. Next? The Stock Just Raised A Lot

 What Will Happen to New Gold Inc. Next? The Stock Just Raised A Lot

The stock of New Gold Inc. (TSE:NGD) is a huge mover today! About 653,021 shares traded hands. New Gold Inc. (TSE:NGD) has declined 0.59% since March 10, 2016 and is downtrending. It has underperformed by 6.20% the S&P500.
The move comes after 7 months positive chart setup for the $2.54 billion company. It was reported on Oct, 17 by Barchart.com. We have $8.11 PT which if reached, will make TSE:NGD worth $1.47 billion more.

New Gold Inc. (TSE:NGD) Ratings Coverage

Out of 8 analysts covering New Gold Inc. (TSE:NGD), 2 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 25% are positive. $6 is the highest target while $3.50 is the lowest. The $4.61 average target is -10.14% below today’s ($5.13) stock price. New Gold Inc. has been the topic of 14 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Friday, August 28 by Mackie. The stock has “Sector Perform” rating given by National Bank Canada on Friday, October 30. RBC Capital Markets maintained the shares of NGD in a report on Tuesday, November 17 with “Outperform” rating. RBC Capital Markets maintained the shares of NGD in a report on Wednesday, June 29 with “Sector Perform” rating. The rating was maintained by RBC Capital Markets on Friday, October 7 with “Sector Perform”. The company was initiated on Thursday, February 4 by JP Morgan. As per Tuesday, February 23, the company rating was upgraded by Desjardins Securities. Mackie downgraded the shares of NGD in a report on Thursday, October 29 to “Hold” rating.

New Gold Inc. is a Canada-based intermediate gold mining company. The company has a market cap of $2.54 billion. The Firm is engaged in the development and operation of mineral properties. It currently has negative earnings. The Firm has operating mines in Canada, the United States, Australia and Mexico and development projects in Canada.

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