Wed Sep 11 09:38:55 UTC 2024: ## New Gold Stock Receives Positive Analyst Attention, Price Target Raised
**Toronto, Canada – September 11, 2024** – New Gold Inc. (NYSE: NGD) has seen a surge in positive sentiment from analysts, with several investment firms raising their price targets for the company.
Royal Bank of Canada (RBC) has been the latest to increase their outlook, raising their price target from $3.00 to $3.50 and maintaining an “outperform” rating.
Other analysts have also expressed optimism about New Gold’s future. CIBC increased their target from $3.00 to $3.40, while BMO Capital Markets initiated coverage with an “outperform” rating and a $3.50 price target. Scotiabank boosted their target from $2.50 to $2.75.
The positive sentiment from analysts is based on New Gold’s recent strong performance. The company reported $0.02 EPS for the quarter ending July 30th, exceeding analyst expectations. Revenue for the quarter reached $218.20 million.
Institutional investors have also shown confidence in New Gold, with several firms increasing their stakes in the company. Heartland Advisors Inc., Baader Bank Aktiengesellschaft, Hillsdale Investment Management Inc., TD Asset Management Inc., and CIBC Asset Management Inc. all increased their holdings in the fourth quarter.
Overall, New Gold appears to be attracting significant interest from both analysts and institutional investors. The company’s recent performance and positive outlook suggest potential growth for the future.
**Disclaimer:** This is a news article summarizing information from MarketBeat. It does not constitute financial advice. Always consult with a qualified financial professional before making any investment decisions.
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