A Wall Street analyst has provided a review for the Materials company on March 22, but retained the same rating on the stock. Analyst Dalton Baretto from Canaccord Genuity rated New Gold (NGD) a Hold on March 22, setting a C$1.15 price target.
According to TipRanks.com, Baretto is a 4-star analyst with an average return of 5.6% and a 50.9% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Trevali Mining Corporation, First Quantum Minerals Ltd, and Teck Resources Limited.
Currently, the analyst consensus on New Gold is a Moderate Sell with an average price target of C$1.06, representing a -8.6% downside. In a report issued on March 21, National Bank also maintained a Hold rating on the stock with a C$1.40 price target.
.
New Gold’s market cap is currently C$654.4M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.50.
New Gold Inc. is engaged 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 Tuesday at C$1.16, close to its 52-week low of C$0.90.
