A Wall Street analyst has provided a review for the Materials company on May 31, but retained the same rating on the stock. New Gold (NGD) received a Hold on May 31 from Canaccord Genuity’s analyst Dalton Baretto, with a C$0.90 price target.
According to TipRanks.com, Baretto is a 3-star analyst with an average return of 1.5% and a 42.4% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals Ltd, Trevali Mining Corporation, and Teck Resources Limited.
Read also: Texas Mineral Resources (TMRC): This Rare Earth Metal Play Could See Substantial Upside
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for New Gold with a C$1.15 average price target.
New Gold’s market cap is currently C$498M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.41.
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 Monday at C$0.88, close to its 52-week low of C$0.82.
