New Gold Inc (NGD) shares recently surpassed the average analyst 12-month target price of $4.91, trading at $4.93 per share. This milestone prompts analysts to reassess their target prices based on the company’s performance and market conditions. The average target is influenced by input from nine analysts, with projections ranging from a low of $3.42 to a high of $6.00, and a standard deviation of $0.983.
Currently, the analyst ratings for New Gold are predominantly positive, with 6 strong buy ratings, 1 buy rating, and 2 hold ratings, resulting in an average rating of 1.56 (on a scale where 1 is Strong Buy and 5 is Strong Sell). This consistent outlook signals investor confidence as they reconsider their positions in light of the stock’s rise above expectations.
