Canaccord Genuity Reiterates a 'Buy' on New Gold (NGD); Blackwater Acquisition and Revised Peak Gold Price Improve Valuation
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Price: $1.72 --0%
Rating Summary:
7 Buy, 10 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
7 Buy, 10 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Canaccord Genuity reiterates a 'Buy' on New Gold (NYSE: NGD), PT increased from $13 to $14.50.
Canaccord analyst, Steven Butler, said, "We reiterate our rating on New Gold following the completion of the Richfield Ventures acquisition. Our rating is based on growth at a reasonable price, the resource and valuation upside associated with the Blackwater project and the optionality associated with the sulphide resources at CSP and Mesquite...Our 5%/peak NAVPS estimate has also been updated due to our recently revised peak gold/silver price deck to $1,600/oz Au and $47.50/oz Ag."
For more ratings news on New Gold click here and for the rating history of New Gold click here.
Shares of New Gold closed at $9.83 yesterday.
Canaccord analyst, Steven Butler, said, "We reiterate our rating on New Gold following the completion of the Richfield Ventures acquisition. Our rating is based on growth at a reasonable price, the resource and valuation upside associated with the Blackwater project and the optionality associated with the sulphide resources at CSP and Mesquite...Our 5%/peak NAVPS estimate has also been updated due to our recently revised peak gold/silver price deck to $1,600/oz Au and $47.50/oz Ag."
For more ratings news on New Gold click here and for the rating history of New Gold click here.
Shares of New Gold closed at $9.83 yesterday.
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