New Gold price target raised to $5.45 from $4.55 at BofA

BofA raised the firm’s price target on New Gold (NGD) to $5.45 from $4.55 and keeps a Buy rating on the shares. The firm, which highlighted key takeaways from an investor trip to Panama, also noted continued strength in gold buying from China’s central bank in May and pointed out that the price of gold jumped sharply last week by 4% and is up 31% year-to-date while raising several price objectives among gold miners.