Could New Gold Inc. Crash Even More? The Stock Had Another Big Decline Today

 Could New Gold Inc. Crash Even More? The Stock Had Another Big Decline Today

The stock of New Gold Inc. (TSE:NGD) is a huge mover today! About 349,377 shares traded hands. New Gold Inc. (TSE:NGD) has risen 14.40% since April 6, 2016 and is uptrending. It has outperformed by 8.75% the S&P500.
The move comes after 9 months negative chart setup for the $3.03 billion company. It was reported on Nov, 10 by Barchart.com. We have $5.29 PT which if reached, will make TSE:NGD worth $151.50M less.

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 -17.24% below today’s ($5.57) stock price. New Gold Inc. has been the topic of 14 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The stock of New Gold Inc. (TSE:NGD) earned “Hold” rating by Desjardins Securities on Tuesday, February 23. The firm earned “Hold” rating on Thursday, October 29 by Mackie. The rating was maintained by RBC Capital Markets with “Outperform” on Tuesday, November 17. The firm has “Sector Perform” rating by National Bank Canada given on Friday, October 30. On Thursday, February 4 the stock rating was initiated by JP Morgan with “Neutral”. The firm has “Buy” rating by Mackie given on Friday, August 28. RBC Capital Markets maintained the stock with “Sector Perform” rating in Wednesday, June 29 report. As per Friday, October 7, the company rating was maintained by RBC Capital Markets.

New Gold Inc. is a Canada-based intermediate gold mining company. The company has a market cap of $3.03 billion. The Firm is engaged in the development and operation of mineral properties. It has a 156.59 P/E ratio. The Firm has operating mines in Canada, the United States, Australia and Mexico and development projects in Canada.

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