National Bank Keeps Their Hold Rating on New Gold (NGD)

By Austin Angelo

Shares of New Gold (NGDResearch Report) were revisited by a Wall Street analyst today. Analyst Don DeMarco from National Bank remains neutral on the stock and has a C$1.80 price target.

According to TipRanks.com, DeMarco is a 3-star analyst with an average return of 5.8% and a 63.3% success rate. DeMarco covers the Basic Materials sector, focusing on stocks such as Golden Star Resources Ltd, OceanaGold Corporation, and SilverCrest Metals Inc.

Currently, the analyst consensus on New Gold is a Hold with an average price target of C$1.28, representing a -10.5% downside. In a report issued on January 7, Canaccord Genuity also reiterated a Hold rating on the stock with a C$1.25 price target.

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The company has a one-year high of C$4.30 and a one-year low of C$0.90. Currently, New Gold has an average volume of 1.26M.

New Gold Inc. engages in the development and operation of mineral properties. Its portfolio includes Rainy RIver, Mesquite, New Afton, Peak Mines, and Cerro San Pedro. The company was founded on January 31, 1980 and is headquartered in Toronto, Canada.

The company’s shares closed on Monday at C$1.43, close to its 52-week low of C$0.90.