On October 18, an analyst has provided a rating update for the Materials sector company, New Gold (TSX: NGD). Canaccord Genuity’s analyst Carey MacRury reiterates their Hold rating on the shares, with a C$1.10 price target.
According to TipRanks.com, MacRury has currently no stars on a ranking scale of 0-5 stars, with an average return of -9.7% and a 24.5% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Newmont Mining Corporation, Osisko Gold Royalties Ltd, and Torex Gold Resources Inc.
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The word on The Street in general, suggests a Moderate Sell analyst consensus rating for New Gold with a C$1.55 average price target.
New Gold’s market cap is currently C$584.5M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.24.
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 Friday at C$1.01, close to its 52-week low of C$0.97.
