NEW GOLD (NGD) : Analyst Rating Update

NEW GOLD (NGD) : 1 brokerage houses believe that NEW GOLD (NGD) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 6 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on NEW GOLD (NGD). Zacks Investment Research suggests a Hold with a rank of 3. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 9 Wall Street Analysts endorse the stock as a Hold with a rating of 2.89.

NEW GOLD (NGD) : The most positive equity analysts on NEW GOLD (NGD) expects the shares to touch $6, whereas, the least positive believes that the stock will trade at $4 in the short term. The company is covered by 7 Wall Street Brokerage Firms. The average price target for shares are $4.78 with an expected fluctuation of $0.87 from the mean.

NEW GOLD (NYSEMKT:NGD): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $4.98 and $4.79 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $4.90, notching a gain of 2.30% for the day. The total traded volume was 7,768,033 . The stock had closed at $4.79 on the previous day.

Also, Equity Analysts at the Barclays upgrades the rating on NEW GOLD (NYSEMKT:NGD). The brokerage firm has issued a Overweight rating on the shares. The shares were previously rated Equal-weight. The Analysts at the ratings agency raises the price target from $3 per share to $5 per share. The rating by the firm was issued on April 18, 2016. The company shares have rallied 78.73% from its 1 Year high price. On May 16, 2016, the shares registered one year high at $4.85 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $4.15 and the 200 Day Moving Average price is recorded at $3.55.

New Gold Inc. is a Canada-based intermediate gold mining company engaged in the development and operation of mineral properties. The Companys assets include New Afton Mine in Canada, which is an underground gold?copper deposit; the Mesquite Mine in the United States, which is an open pit mine; the Peak Mines in Australia, which is an underground gold?copper deposit, and the Cerro San Pedro Mine in Mexico, which is a gold?silver, open pit mine. The Company projects include the Rainy River and Blackwater projects, both in Canada, and a 30% interest in the El Morro copper?gold project in Chile. Approximately 28% of the Companys gold revenue is generated from Canada, 28% from the United States, 26% from Australia and 18% from Mexico, and over 70% of its gold reserves are located in Canada.

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