Noble Financial Remains a Buy on Newrange Gold (NRGOF)
In a report released today, Mark Reichman from Noble Financial maintained a Buy rating on Newrange Gold (NRGOF), with a price target of $0.20. The company’s shares closed last Wednesday at $0.09.
According to TipRanks.com, Reichman is a 4-star analyst with an average return of 9.2% and a 45.5% success rate. Reichman covers the Basic Materials sector, focusing on stocks such as Endeavour Silver, Comstock Mining, and Allegiant Gold.
Newrange Gold has an analyst consensus of Moderate Buy, with a price target consensus of $0.20.
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Based on Newrange Gold’s latest earnings release for the quarter ending October 31, the company reported a quarterly GAAP net loss of $500.4K. In comparison, last year the company had a GAAP net loss of $287.3K.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NRGOF in relation to earlier this year.
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Newrange Gold Corp. engages in the identification, acquisition and exploration of precious metal and base metal projects. It operates the Pamlico, El Dovio, and Yarumalito projects. The company was founded by Nathan A. Tewalt and Robert G. Carrington on May 16, 2006 and is headquartered in Vancouver, Canada.