New Gold (NGD) Stock Forecast & Price Target

$2.97

-0.14 (-4.50%)

(As of 09/27/2024 ET)

New Gold - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Buy

Based on 7 Analyst Ratings

Sell
0

Hold
2

Buy
5

Based on 7 Wall Street analysts who have issued ratings for New Gold in the last 12 months, the stock has a consensus rating of "Buy." Out of the 7 analysts, 2 have given a hold rating, 3 have given a buy rating, and 2 have given a strong buy rating for NGD.

Consensus Price Target

$2.74
-7.69% Downside

According to the 7 analysts' twelve-month price targets for New Gold, the average price target is $2.74. The highest price target for NGD is $3.50, while the lowest price target for NGD is $1.05. The average price target represents a forecasted downside of -7.69% from the current price of $2.97.

NGD Analyst Ratings Over Time

Type	Current Forecast 9/29/23 to 9/28/24	1 Month Ago 8/30/23 to 8/29/24	3 Months Ago 7/1/23 to 6/30/24	1 Year Ago 9/29/22 to 9/29/23
Strong Buy	2 Strong Buy rating(s)	2 Strong Buy rating(s)	2 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	3 Buy rating(s)	2 Buy rating(s)	2 Buy rating(s)	1 Buy rating(s)
Hold	2 Hold rating(s)	2 Hold rating(s)	3 Hold rating(s)	2 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$2.74	$2.49	$2.12	$1.13
Forecasted Upside	-7.69% Downside	-0.20% Downside	8.55% Upside	7.42% Upside
Consensus Rating	Buy	Buy	Moderate Buy	Hold

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NGD Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

NGD Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

New Gold Stock vs. The Competition

Type	New Gold	Basic Materials Companies	S&P 500
Consensus Rating Score	3.00	2.73	2.50
Consensus Rating	Buy	Moderate Buy	Hold
Predicted Upside	-7.22% Downside	197.65% Upside	6.14% Upside
News Sentiment Rating	Positive News See Recent NGD News	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
9/17/2024	Scotiabank 5 of 5 stars	E. Winmill Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Sector Outperform ➝ Sector Outperform	$2.75 ➝ $3.25	+8.70%
9/10/2024	Royal Bank of Canada 4 of 5 stars		Boost Target	Outperform	$3.00 ➝ $3.50	+45.23%
7/10/2024	Cibc World Mkts 0 of 5 stars	A. Soni Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
7/10/2024	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperformer ➝ Outperformer	$3.00 ➝ $3.40	+42.86%
5/31/2024	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Outperform ➝ Outperform	$3.00 ➝ $3.50	+59.45%
5/21/2024	TD Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Green Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Sell ➝ Hold
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5/17/2024	National Bank Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Parkin Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Strong-Buy
11/28/2023	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Market Perform	$1.50 ➝ $1.75	+21.53%
8/17/2023	CSFB Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral	$1.20 ➝ $1.15	+16.29%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 03:09 PM ET.

NGD Forecast - Frequently Asked Questions

: According to the research reports of 7 Wall Street equities research analysts, the average twelve-month stock price forecast for New Gold is $2.74, with a high forecast of $3.50 and a low forecast of $1.05.
: 7 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for New Gold in the last year. There are currently 2 hold ratings, 3 buy ratings and 2 strong buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" NGD shares.
: According to analysts, New Gold's stock has a predicted downside of -7.69% based on their 12-month stock forecasts.
: Over the previous 90 days, New Gold's stock had 1 upgrade by analysts.
: New Gold has been rated by research analysts at CIBC, Cibc World Mkts, Royal Bank of Canada, and Scotiabank in the past 90 days.
: Analysts like New Gold more than other "basic materials" companies. The consensus rating for New Gold is Buy while the average consensus rating for "basic materials" companies is Moderate Buy. Learn more on how NGD compares to other companies.