Canaccord analyst Jeremy Hoy raised the firm’s price target on New Gold (NGD) to C$9 from C$8.25 and keeps a Buy rating on the shares. The firm updated its model following Q2 results which saw free cash flow ramping which they believe will underpin further share price outperformance as the company delivers on near-term production growth.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NGD: