NewCastle Gold Receives a Buy from BMO Capital

By Jason Carr

In a new note to investors yesterday, an analyst has provided a rating update for the Materials sector company, NewCastle Gold (TSX: NCA). Analyst Andrew Kaip from BMO Capital rated NewCastle Gold (TSX: NCA) a Buy, setting a C$1.25 price target.

According to TipRanks.com, Kaip is ranked 0 out of 5 stars with an average return of -3.6% and a 29.8% success rate. Kaip covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Endeavour Silver Corp.

Currently, the analyst consensus on NewCastle Gold is Strong Buy and the average price target is C$1.58, representing a 59.6% upside.

In a report issued on June 6, GMP FirstEnergy also reiterated a Buy rating on the stock with a C$1.50 price target.

NewCastle Gold Ltd. is a mineral exploration company, which engages in exploration and development of gold mines. Its projects include Castle Mountain, located in San Benardino, California; and La Verde, located in West Central Mexico. The company was founded on December 16, 2009 and is headquartered in Ontario, Canada.

The company’s shares closed last Tuesday at $0.99.