New Gold Inc. (USA) (NGD) At $2.98 Forms Bottom, 1 Bullish Analysts Covering Encana (TSE:ECA)

June 16, 2017 - By Hazel Jackson

Among 8 analysts covering Encana Corporation (TSE:ECA), 1 have Buy rating, 1 Sell and 6 Hold. Therefore 13% are positive. Encana Corporation has $20 highest and $7.50 lowest target. $12.12’s average target is 3.86% above currents $11.67 stock price. Encana Corporation had 31 analyst reports since July 28, 2015 according to SRatingsIntel. TD Securities maintained the stock with “Buy” rating in Friday, November 18 report. The company was maintained on Tuesday, December 15 by RBC Capital Markets. On Friday, February 17 the stock rating was maintained by TD Securities with “Hold”. As per Friday, January 27, the company rating was downgraded by TD Securities. TD Securities maintained it with “Buy” rating and $11.50 target in Friday, August 19 report. As per Friday, November 4, the company rating was maintained by TD Securities. As per Wednesday, May 31, the company rating was initiated by Raymond James. The rating was maintained by Scotia Capital on Friday, February 17 with “Underperform”. On Friday, July 22 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. Scotia Capital maintained the stock with “Top Pick” rating in Friday, November 4 report. See Encana Corp (TSE:ECA) latest ratings:

31/05/2017 Broker: Raymond James Rating: Outperform New Target: $20.00 Initiate
17/02/2017 Broker: Scotia Capital Rating: Underperform New Target: $12.00 Maintain
17/02/2017 Broker: TD Securities Rating: Hold New Target: $15.00 Maintain
27/01/2017 Broker: TD Securities Old Rating: Buy New Rating: Hold New Target: $15.00 Downgrade
05/01/2017 Broker: Scotia Capital Rating: Underperform Old Target: $11.00 New Target: $12.00 Target Up
22/12/2016 Broker: BMO Capital Markets Rating: Old Target: $14.00 New Target: $15.00 Target Up

New Gold Inc. (USA) (NGD) formed multiple bottom with $2.71 target or 9.00% below today’s $2.98 share price. New Gold Inc. (USA) (NGD) has $1.71 billion valuation. The stock decreased 0.33% or $0.01 on June 15, reaching $2.98. About shares traded. New Gold Inc. (USA) (NYSEMKT:NGD) has declined 31.09% since June 16, 2016 and is downtrending. It has underperformed by 47.79% the S&P500.

Among 4 analysts covering New Gold Inc. (NYSEMKT:NGD), 3 have Buy rating, 1 Sell and 0 Hold. Therefore 75% are positive. New Gold Inc. had 13 analyst reports since August 24, 2015 according to SRatingsIntel. Credit Suisse downgraded the shares of NGD in report on Tuesday, January 31 to “Underperform” rating. The firm has “Buy” rating by Desjardins Securities given on Friday, September 16. The rating was downgraded by Desjardins Securities on Thursday, September 8 to “Hold”. IBC initiated New Gold Inc. (USA) (NYSEMKT:NGD) on Friday, October 9 with “Sector Performer” rating. The firm earned “Hold” rating on Monday, August 31 by Mackie. Mackie upgraded New Gold Inc. (USA) (NYSEMKT:NGD) rating on Friday, August 28. Mackie has “Hold” rating and $4 target.

Analysts await New Gold Inc. (USA) (NYSEMKT:NGD) to report earnings on July, 26. They expect $0.02 earnings per share, down 33.33% or $0.01 from last year’s $0.03 per share. NGD’s profit will be $11.48M for 37.25 P/E if the $0.02 EPS becomes a reality. After $0.02 actual earnings per share reported by New Gold Inc. (USA) for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids producing plays. The company has market cap of $10.75 billion. The Company’s activities also include the marketing of natural gas, oil and NGLs. It currently has negative earnings. All of its reserves and production are located in North America.

The stock decreased 5.35% or $0.66 on June 15, reaching $11.67. About shares traded. Encana Corp (TSE:ECA) has 0.00% since June 16, 2016 and is . It has underperformed by 16.70% the S&P500.