In a report issued on February 14, Josh Wolfson from RBC Capital maintained a Hold rating on New Gold (NGD – Research Report), with a price target of $1.50. The company’s shares closed last Tuesday at $1.88.
According to TipRanks.com, Wolfson is a 2-star analyst with an average return of 0.3% and a 52.8% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Anglogold Ashanti.
The word on The Street in general, suggests a Hold analyst consensus rating for New Gold with a $1.99 average price target, representing a 9.3% upside. In a report issued on February 4, National Bank also maintained a Hold rating on the stock with a C$2.75 price target.
Based on New Gold’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $180 million and GAAP net loss of $11.3 million. In comparison, last year the company earned revenue of $174 million and had a net profit of $15.7 million.
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New Gold Inc. is engaged in the operation, development and exploration of mineral properties. Its portfolio includes Rainy RIver, New Afton, and Cerro San Pedro. The company was founded on January 31, 1980 and is headquartered in Toronto, Canada.
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