National Bankshares Trims New Gold (TSE:NGD) Target Price to C$2.50

New Gold (TSE:NGD – Get Rating) (ARCA:NGD) had its price objective decreased by equities researchers at National Bankshares from C$2.75 to C$2.50 in a research report issued on Wednesday, BayStreet.CA reports. National Bankshares’ price objective indicates a potential upside of 8.70% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group downgraded shares of New Gold to a “hold” rating and set a C$2.25 price objective for the company. in a research report on Tuesday, January 18th. BMO Capital Markets reduced their target price on shares of New Gold from C$3.50 to C$3.25 in a report on Thursday, February 24th. Eight equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$2.41.

Shares of NGD stock traded down C$0.01 on Wednesday, reaching C$2.30. 593,728 shares of the stock were exchanged, compared to its average volume of 1,789,119. New Gold has a twelve month low of C$1.29 and a twelve month high of C$2.68. The company has a market capitalization of C$1.57 billion and a price-to-earnings ratio of 8.85. The company has a current ratio of 3.97, a quick ratio of 3.30 and a debt-to-equity ratio of 53.49. The business’s 50 day moving average price is C$2.30 and its 200 day moving average price is C$2.01.

New Gold (TSE:NGD – Get Rating) (ARCA:NGD) last posted its quarterly earnings data on Wednesday, February 23rd. The company reported C$0.05 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of C$0.05. The firm had revenue of C$255.43 million during the quarter. Equities research analysts forecast that New Gold will post 0.21 earnings per share for the current year.

About New Gold (Get Rating)

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 principal operating properties include 100% interests in the Rainy River gold-silver mine located in Ontario, Canada; and New Afton gold-copper mine located in British Columbia, Canada.

Further Reading