New Gold (NGD) Raised to “Hold” at Canaccord Genuity

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New Gold (TSE:NGD) (ARCA:NGD) was upgraded by investment analysts at Canaccord Genuity from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

Several other research analysts have also commented on NGD. National Bank Financial dropped their price objective on shares of New Gold from C$6.25 to C$5.50 and set an “outperform” rating for the company in a research note on Friday, April 27th. Eight Capital lowered shares of New Gold from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from C$4.25 to C$3.50 in a research note on Thursday, May 10th. Cormark lowered their target price on shares of New Gold from C$3.25 to C$2.50 in a research note on Friday, July 27th. BMO Capital Markets lowered their target price on shares of New Gold from C$4.50 to C$2.25 in a research note on Friday, July 27th. Finally, Beacon Securities lowered shares of New Gold from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of C$3.31.

TSE NGD opened at C$1.32 on Monday. New Gold has a 52 week low of C$1.29 and a 52 week high of C$5.16.

About New Gold

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 New Afton project located near Kamloops, British Columbia, Canada; the Mesquite mine located in Imperial County, California, the United States; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

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