National Bankshares upgraded shares of New Gold (TSE:NGD – Free Report) (ARCA:NGD) from a sector perform rating to an outperform rating in a research note released on Tuesday morning, BayStreet.CA reports. National Bankshares currently has C$3.50 price objective on the stock, up from their prior price objective of C$3.25.
A number of other equities research analysts have also recently weighed in on NGD. National Bank Financial reiterated a sector perform spec overwgt rating on shares of New Gold in a research report on Monday, April 8th. Bank of America lifted their price objective on shares of New Gold from C$1.90 to C$2.30 in a report on Tuesday, April 9th. Finally, Canaccord Genuity Group lifted their price objective on shares of New Gold from C$2.75 to C$3.00 in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Buy and an average price target of C$2.76.
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New Gold Price Performance
New Gold (TSE:NGD – Get Free Report) (ARCA:NGD) last announced its quarterly earnings results on Tuesday, April 30th. The company reported C$0.03 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.01 by C$0.02. New Gold had a negative net margin of 9.81% and a negative return on equity of 9.44%. The business had revenue of C$258.98 million during the quarter. As a group, analysts forecast that New Gold will post 0.2190332 EPS for the current year.
New Gold Company Profile
New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.
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