Eight Capital Cuts New Gold (TSE:NGD) Price Target to C$4.75

New Gold (TSE:NGD) (ARCA:NGD) had its price target lowered by research analysts at Eight Capital from C$5.25 to C$4.75 in a note issued to investors on Friday, February 23rd. Eight Capital’s target price indicates a potential upside of 53.23% from the company’s previous close.

Several other equities analysts have also commented on NGD. Canaccord Genuity dropped their target price on New Gold from C$5.75 to C$5.50 in a research note on Friday, January 19th. Laurentian set a C$4.75 price target on New Gold and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Desjardins restated a “sell” rating on shares of New Gold in a research note on Monday, December 11th. Finally, Laurentian Bank of Canada reiterated a “buy” rating and issued a C$4.75 target price on shares of New Gold in a research note on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. New Gold presently has a consensus rating of “Buy” and a consensus target price of C$5.29.

Shares of New Gold (NGD) traded down C$0.06 during trading hours on Friday, hitting C$3.10. The stock had a trading volume of 267,076 shares, compared to its average volume of 1,075,960. The stock has a market capitalization of $1,790.00, a P/E ratio of -13.48 and a beta of -0.13. New Gold has a twelve month low of C$2.98 and a twelve month high of C$5.16.

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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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