Eight Capital Trims New Gold (NGD) Target Price to C$5.00

New Gold (TSE:NGD) (ARCA:NGD) had its price target reduced by Eight Capital from C$5.50 to C$5.00 in a research report released on Thursday.

NGD has been the subject of several other research reports. Desjardins reiterated a sell rating on shares of New Gold in a research note on Monday, December 11th. Canaccord Genuity lifted their price objective on shares of New Gold from C$4.25 to C$4.75 in a research note on Friday, September 29th. Laurentian Bank of Canada reiterated a buy rating and issued a C$4.75 price objective on shares of New Gold in a research note on Tuesday, December 19th. Laurentian set a C$4.75 price objective on shares of New Gold and gave the company a buy rating in a research note on Tuesday, December 19th. Finally, Scotiabank upgraded shares of New Gold to a sector perform rating and set a C$5.00 price objective for the company in a research note on Friday, September 29th. Four analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of C$4.94.

New Gold (TSE:NGD) traded up C$0.01 during trading hours on Thursday, hitting C$3.88. 596,107 shares of the stock traded hands, compared to its average volume of 1,092,233. The company has a market cap of $2,230.00, a price-to-earnings ratio of 32.33 and a beta of -0.28. New Gold has a 12 month low of C$3.11 and a 12 month high of C$5.79.

New Gold (TSE:NGD) (ARCA:NGD) last released its quarterly earnings data on Wednesday, October 25th. The company reported C$0.01 earnings per share for the quarter, meeting the consensus estimate of C$0.01. New Gold had a net margin of 20.49% and a return on equity of 5.05%.

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About New Gold

New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.

Analyst Recommendations for New Gold (TSE:NGD)

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