It Seems New Gold Inc. Will Go Down. Have Another Big Decline

 It Seems New Gold Inc. Will Go Down. Have Another Big Decline

The stock of New Gold Inc. (TSE:NGD) is a huge mover today! About 561,023 shares traded hands. New Gold Inc. (TSE:NGD) has declined 8.76% since April 19, 2016 and is downtrending. It has underperformed by 14.09% the S&P500.
The move comes after 9 months negative chart setup for the $2.58 billion company. It was reported on Nov, 23 by Barchart.com. We have $4.50 PT which if reached, will make TSE:NGD worth $232.20M 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 -6.87% below today’s ($4.95) stock price. New Gold Inc. has been the topic of 14 analyst reports since July 28, 2015 according to StockzIntelligence Inc. Desjardins Securities upgraded the stock to “Hold” rating in Tuesday, February 23 report. The stock has “Neutral” rating given by JP Morgan on Thursday, February 4. Mackie upgraded the stock to “Buy” rating in Friday, August 28 report. The firm has “Sector Perform” rating given on Friday, October 7 by RBC Capital Markets. The company was maintained on Tuesday, November 17 by RBC Capital Markets. National Bank Canada downgraded New Gold Inc. (TSE:NGD) on Friday, October 30 to “Sector Perform” rating. The company was downgraded on Thursday, October 29 by Mackie. As per Wednesday, June 29, 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 $2.58 billion. The Firm is engaged in the development and operation of mineral properties. It has a 143.56 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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