Price Action Report: Could New Gold Inc. (USA) Crash Even More? The Stock Had Another Big Decline Today

Price Action Report: Could New Gold Inc. (USA) Crash Even More? The Stock Had Another Big Decline Today

The stock of New Gold Inc. (USA) (NYSEMKT:NGD) is a huge mover today! The stock decreased 2.05% or $0.08 on November 16, hitting $3.83. About 7.00 million shares traded hands or 21.11% up from the average. New Gold Inc. (USA) (NYSEMKT:NGD) has declined 2.96% since April 14, 2016 and is downtrending. It has underperformed by 7.64% the S&P500.
The move comes after 9 months negative chart setup for the $2.06B company. It was reported on Nov, 16 by Barchart.com. We have $3.56 PT which if reached, will make NYSEMKT:NGD worth $144.20 million less.

New Gold Inc. (USA) (NYSEMKT:NGD) Ratings Coverage

Out of 3 analysts covering New Gold Inc. (NYSEMKT:NGD), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. New Gold Inc. has been the topic of 12 analyst reports since August 24, 2015 according to StockzIntelligence Inc. Desjardins Securities upgraded the stock to “Buy” rating in Friday, September 16 report. The stock has “Sector Performer” rating given by IBC on Friday, October 9. The firm earned “Hold” rating on Monday, August 31 by Mackie. The firm earned “Hold” rating on Friday, August 28 by Mackie. The firm has “Hold” rating by Desjardins Securities given on Thursday, September 8.

According to Zacks Investment Research, “New Gold Inc. is focused on the exploration and development of the Afton Copper-Gold Project, located 6 miles (10 km) west of Kamloops, British Columbia.”

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