New Gold Inc (NGD) Director Renaud Adams Purchases 100,000 Shares

New Gold Inc (TSE:NGD) (ARCA:NGD) Director Renaud Adams acquired 100,000 shares of the company’s stock in a transaction on Wednesday, November 7th. The stock was acquired at an average cost of C$1.10 per share, for a total transaction of C$110,000.00.

Shares of TSE:NGD traded down C$0.01 during trading on Friday, reaching C$1.09. The stock had a trading volume of 1,219,023 shares, compared to its average volume of 1,348,383. New Gold Inc has a 1-year low of C$0.90 and a 1-year high of C$4.45.

New Gold (TSE:NGD) (ARCA:NGD) last issued its quarterly earnings results on Wednesday, October 24th. The company reported C($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C($0.05) by C$0.04. The firm had revenue of C$192.25 million during the quarter, compared to analyst estimates of C$245.55 million.

Several analysts have commented on the company. Canaccord Genuity dropped their price objective on New Gold from C$4.50 to C$3.50 in a report on Tuesday, July 24th. National Bank Financial dropped their price objective on New Gold from C$4.50 to C$2.75 and set an “outperform” rating on the stock in a report on Friday, July 27th. Cormark dropped their price objective on New Gold from C$3.25 to C$2.50 in a report on Friday, July 27th. Beacon Securities lowered New Gold from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. Finally, BMO Capital Markets lowered their price target on New Gold from C$4.50 to C$2.25 in a research note on Friday, July 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. New Gold currently has an average rating of “Hold” and a consensus price target of C$2.14.

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New Gold Company Profile

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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