New Gold (TSE:NGD) Price Target Raised to C$1.75 at Eight Capital

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New Gold (TSE:NGD) (ARCA:NGD) had its price objective increased by stock analysts at Eight Capital from C$1.30 to C$1.75 in a note issued to investors on Thursday, BayStreet.CA reports. Eight Capital’s target price suggests a potential upside of 1.74% from the stock’s current price.

NGD has been the topic of several other reports. BMO Capital Markets upped their price objective on shares of New Gold from C$1.50 to C$2.00 in a report on Friday, August 2nd. Cormark upped their price objective on shares of New Gold from C$1.15 to C$1.35 in a research report on Thursday, June 27th. National Bank Financial upped their price objective on shares of New Gold from C$1.35 to C$2.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 23rd. Finally, Canaccord Genuity increased their price target on shares of New Gold from C$1.10 to C$1.80 in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. New Gold presently has an average rating of “Hold” and a consensus target price of C$1.56.

Shares of TSE:NGD traded up C$0.04 during mid-day trading on Thursday, hitting C$1.72. The company had a trading volume of 1,125,169 shares, compared to its average volume of 1,589,478. The company has a fifty day moving average of C$1.50. The firm has a market capitalization of $984.50 million and a P/E ratio of -1.06. The company has a debt-to-equity ratio of 90.64, a current ratio of 2.08 and a quick ratio of 1.03. New Gold has a one year low of C$0.82 and a one year high of C$2.03.

New Gold (TSE:NGD) (ARCA:NGD) last announced its quarterly earnings results on Thursday, August 1st. The company reported C($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of C($0.02) by C$0.01. The business had revenue of C$207.47 million for the quarter, compared to the consensus estimate of C$216.59 million. On average, equities research analysts predict that New Gold will post 0.02 earnings per share for the current year.

New Gold Company Profile

New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the Rainy River project located in Ontario, Canada; the New Afton project located near Kamloops, British Columbia, Canada; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

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Analyst Recommendations for New Gold (TSE:NGD)

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