Research analysts at Scotiabank cut their target price on shares of New Gold (TSE: NGD) from $14.00 to $13.00 in a report released on Friday. The firm currently has an “outperform” rating on the stock.
New Gold traded up 2.72% on Friday, hitting $9.45. New Gold has a 52-week low of $7.20 and a 52-week high of $12.50. The stock’s 50-day moving average is currently $9.95. The company has a market cap of $4.374 billion and a price-to-earnings ratio of 38.33.
Several other analysts have also recently commented on the stock. Analysts at CIBC cut their price target on shares of New Gold from $15.00 to $14.00 in a research note to investors on Thursday, February 7th. They now have a “sector perform” rating on the stock. Analysts at National Bank cut their price target on shares of New Gold from $14.75 to $14.00 in a research note to investors on Wednesday, February 6th.
New Gold Inc. is engaged in gold mining and related activities, including acquisition, exploration, extraction, processing and reclamation.
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