New Gold (NYSE:NGD)‘s stock had its “hold” rating restated by investment analysts at Goldman Sachs Group Inc. in a note issued to investors on Tuesday, AR Network reports. They currently have a $7.00 price objective on the stock. Goldman Sachs Group Inc.’s price target indicates a potential upside of 14.57% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays reiterated a “hold” rating on shares of New Gold in a research note to investors on Tuesday, October 8th. They now have a $8.00 price target on the stock. Finally, analysts at Zacks upgraded shares of New Gold from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, September 17th. They now have a $6.20 price target on the stock. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. New Gold currently has an average rating of “Buy” and a consensus price target of $9.93.
Shares of New Gold (NYSE:NGD) traded up 3.04% during mid-day trading on Tuesday, hitting $6.11. 6,360,277 shares of the company’s stock traded hands. New Gold has a 1-year low of $5.49 and a 1-year high of $11.91. The stock has a 50-day moving average of $6.10 and a 200-day moving average of $6.79. The company has a market cap of $3.052 billion and a price-to-earnings ratio of 14.46.
New Gold (NYSE:NGD) last released its earnings data on Wednesday, July 31st. The company reported $0.01 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.06 by $0.05. The company had revenue of $183.50 million for the quarter, compared to the consensus estimate of $241.60 million. During the same quarter last year, the company posted $0.10 earnings per share. New Gold’s revenue was up 5.3% compared to the same quarter last year. On average, analysts predict that New Gold will post $0.21 earnings per share for the current fiscal year.
New Gold Inc (NYSE:NGD) is an intermediate gold producer with a portfolio of global assets in the United States, Mexico, Australia, Canada, Chile and Brazil.
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