RBC Capital Reaffirms Their Hold Rating on New Gold Inc

By Carrie Williams

In a report released yesterday, Stephen Walker from RBC Capital reiterated a Hold rating on New Gold Inc (NYSE: NGD), with a price target of $3.50. The company’s shares closed yesterday at $3.05.

According to TipRanks.com, Walker is a 4-star analyst with an average return of 3.9% and a 49.9% success rate. Walker covers the Basic Materials sector, focusing on stocks such as Newmont Mining Corporation, Novagold Resources Inc New, and Hecla Mining Company.

New Gold Inc has an analyst consensus of Moderate Buy, with a price target consensus of $4.

New Gold Inc’s market cap is currently $1.76B and has a P/E ratio of 152.5. The company has a book value ratio of 0.7663.

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New Gold Inc. engages in the production of gold. It operates mines in Canada, the United States, Australia, and Mexico and development projects in Canada. It operates through the following segments: New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate, and Other. The Other segment includes balances relating to the development and exploration properties that have no revenues or operating costs. The company was founded on January 31, 1980 and is headquartered in Vancouver, Canada.