Cormark Analysts Reduce Earnings Estimates for New Gold Inc (NGD)

New Gold Inc (TSE:NGD) (ARCA:NGD) – Cormark reduced their FY2018 earnings per share (EPS) estimates for New Gold in a research note issued on Wednesday, January 9th. Cormark analyst R. Gray now forecasts that the company will post earnings of ($0.11) per share for the year, down from their prior estimate of ($0.10). Cormark also issued estimates for New Gold’s FY2019 earnings at $0.00 EPS.

New Gold (TSE:NGD) (ARCA:NGD) last issued its quarterly earnings results on Wednesday, October 24th. The company reported C($0.01) earnings per share for the quarter, beating the consensus estimate of C($0.05) by C$0.04. The firm had revenue of C$192.25 million for the quarter, compared to analysts’ expectations of C$245.55 million.

Several other equities analysts also recently commented on the stock. BMO Capital Markets boosted their target price on shares of New Gold from C$1.25 to C$1.50 in a report on Wednesday. National Bank Financial boosted their target price on shares of New Gold from C$1.60 to C$1.70 and gave the stock a “sector perform” rating in a report on Monday, November 12th. Canaccord Genuity lowered their target price on shares of New Gold from C$1.50 to C$1.10 in a report on Thursday, October 18th. Finally, Eight Capital lowered their target price on shares of New Gold from C$1.75 to C$1.35 in a report on Thursday, September 20th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of C$1.32.

Shares of TSE:NGD opened at C$1.43 on Friday. The company has a debt-to-equity ratio of 56.00, a quick ratio of 1.19 and a current ratio of 3.61. New Gold has a 1-year low of C$0.90 and a 1-year high of C$4.30.

In related news, Director Renaud Adams bought 100,000 shares of the stock in a transaction dated Wednesday, November 7th. The shares were purchased at an average price of C$1.10 per share, with a total value of C$110,000.00. Also, insider Robert Joseph Chausse bought 230,000 shares of the stock in a transaction dated Wednesday, November 7th. The stock was bought at an average cost of C$1.10 per share, for a total transaction of C$253,000.00.

New Gold Company Profile

New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the New Afton project located near Kamloops, British Columbia, Canada; the Mesquite mine located in Imperial County, California, the United States; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

Read More: How do taxes affect a CDs total return?

Earnings History and Estimates for New Gold (TSE:NGD)

Receive News & Ratings for New Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Gold and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit