Royal Bank of Canada reaffirmed their underperform rating on shares of New Gold (TSE:NGD) (ARCA:NGD) in a report released on Tuesday morning, BayStreet.CA reports. Royal Bank of Canada currently has a C$0.65 target price on the stock.
Several other research firms have also recently weighed in on NGD. National Bank Financial lowered their price objective on New Gold from C$1.50 to C$1.30 and set a sector perform rating on the stock in a research report on Monday, November 18th. BMO Capital Markets lowered their price objective on New Gold from C$2.00 to C$1.50 in a research report on Wednesday, December 18th. Finally, Canaccord Genuity increased their price objective on New Gold from C$1.40 to C$1.60 in a research report on Wednesday, January 15th.
NGD stock opened at C$1.01 on Tuesday. The company has a debt-to-equity ratio of 79.49, a current ratio of 1.80 and a quick ratio of 1.10. The stock has a market capitalization of $746.92 million and a price-to-earnings ratio of -0.74. The business’s fifty day moving average price is C$1.21 and its two-hundred day moving average price is C$1.34. New Gold has a fifty-two week low of C$0.82 and a fifty-two week high of C$2.03.
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 Rainy River project located in Ontario, Canada; the New Afton project located near Kamloops, British Columbia, Canada; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.
Further Reading: Initial Coin Offerings entail a high degree of risk
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