The stock of New Gold Inc. (TSE:NGD) is a huge mover today! About 147,468 shares traded hands. New Gold Inc. (TSE:NGD) has declined 2.69% since April 14, 2016 and is downtrending. It has underperformed by 7.12% the S&P500.
The move comes after 5 months positive chart setup for the $2.58 billion company. It was reported on Nov, 18 by Barchart.com. We have $7.03 PT which if reached, will make TSE:NGD worth $954.60 million 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. Mackie downgraded the stock to “Hold” rating in Thursday, October 29 report. On Thursday, February 4 the stock rating was initiated by JP Morgan with “Neutral”. The firm has “Outperform” rating given on Tuesday, November 17 by RBC Capital Markets. The rating was maintained by RBC Capital Markets on Wednesday, June 29 with “Sector Perform”. The stock has “Sector Perform” rating given by National Bank Canada on Friday, October 30. The stock of New Gold Inc. (TSE:NGD) earned “Hold” rating by Desjardins Securities on Tuesday, February 23. The company was upgraded on Friday, August 28 by Mackie. The company was maintained on Friday, October 7 by RBC Capital Markets.
New Gold Inc. is a Canada-based intermediate gold mining company. The company has a market cap of $2.58 billion. The Firm is engaged in the development and operation of mineral properties. It has a 143.14 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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