According to The Fly, in a report issued on October 18, Carey MacRury from Canaccord Genuity reiterated a Hold rating on New Gold Inc (NYSE: NGD). The company’s shares closed on Friday at $0.79, close to its 52-week low of $0.75.
According to TipRanks.com, MacRury is ranked 0 out of 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.
New Gold Inc has an analyst consensus of Moderate Sell, with a price target consensus of $1.70.
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Based on New Gold Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $302 million. In comparison, last year the company had a net profit of $27 million.
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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.
