New Gold price target raised to $2.75 from $2.50 at Scotiabank

Scotiabank raised the firm’s price target on New Gold to $2.75 from $2.50 and keeps an Outperform rating on the shares. The firm adopted higher gold and silver prices for this year and next, which led to price target increases for many of the companies covered in its Gold & Precious Minerals sector, the analyst tells investors. Alamos Gold is one of the firm’s top picks in the intermediate precious metals space.