BMO Capital Sticks to Its Hold Rating for New Gold


Wall Street analyst has provided a review for the Materials company yesterday, but retained the same rating on the stock. Analyst Brian Quast from BMO Capital reiterated a Hold rating on New Gold (TSX: NGD), with a C$2.25 price target.

According to TipRanks.com, Quast is ranked #1692 out of 4842 analysts.

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Currently, the analyst consensus on New Gold is a Moderate Sell with an average price target of C$2.60, a 37.6% upside from current levels. In a report issued on July 24, GMP FirstEnergy also reiterated a Hold rating on the stock with a C$2.80 price target.

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New Gold’s market cap is currently C$1.09B and has a P/E ratio of 0. The company has a Price to Book ratio of 0.40.

New Gold Inc. engages in the development and operation of mineral properties. Its portfolio includes Rainy RIver, Mesquite, New Afton, Peak Mines, and Cerro San Pedro. The company was founded on January 31, 1980 and is headquartered in Toronto, Canada.

The company’s shares closed on Thursday at C$1.89, close to its 52-week low of C$1.86.

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