A Wall Street analyst has provided a rating update for the Materials sector company today, while remaining neutral on the stock. Analyst Don DeMarco from National Bank remains neutral on New Gold (NGD) and has a C$2 price target.
According to TipRanks.com, DeMarco is a 5-star analyst with an average return of 21.5% and a 83.1% success rate. DeMarco covers the Basic Materials sector, focusing on stocks such as Trevali Mining Corporation, Kirkland Lake Gold Ltd, and First Majestic Silver.
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The word on The Street in general, suggests a Hold analyst consensus rating for New Gold with a C$1.90 average price target, implying a 5.6% upside from current levels. In a report issued on July 19, Canaccord Genuity also maintained a Hold rating on the stock with a C$1.80 price target.
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The company has a one-year high of C$2.51 and a one-year low of C$0.82. Currently, New Gold has an average volume of 1.66M.
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$1.80.
