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Bank of America Securities Reaffirms Their Buy Rating on New Gold (NGD)
Bank of America Securities analyst Lawson Winder maintained a Buy rating on New Gold today and set a price target of $8.65. The company’s shares closed yesterday at $7.31.
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According to TipRanks, Winder is a 5-star analyst with an average return of 19.8% and a 58.29% success rate. Winder covers the Basic Materials sector, focusing on stocks such as Newmont Mining, Barrick Mining, and Freeport-McMoRan.
Currently, the analyst consensus on New Gold is a Strong Buy with an average price target of $6.81, a -6.84% downside from current levels. In a report released on October 10, CIBC also maintained a Buy rating on the stock with a $9.50 price target.
NGD market cap is currently $5.8B and has a P/E ratio of 39.92.
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