New Gold Inc. (NYSEAMERICAN:NGD) – Equities research analysts at Cormark dropped their Q1 2018 earnings per share estimates for shares of New Gold in a research report issued on Thursday. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings per share of $0.02 for the quarter, down from their prior forecast of $0.03. Cormark also issued estimates for New Gold’s Q3 2018 earnings at $0.02 EPS, Q1 2019 earnings at $0.03 EPS, Q2 2019 earnings at $0.03 EPS, Q3 2019 earnings at $0.03 EPS, Q4 2019 earnings at $0.03 EPS and FY2019 earnings at $0.14 EPS.
Other equities analysts also recently issued research reports about the company. Raymond James Financial lowered their price target on New Gold from $4.25 to $3.75 and set a “market perform” rating on the stock in a research report on Thursday. Royal Bank of Canada lowered their price target on New Gold from $4.25 to $3.75 and set a “sector perform” rating on the stock in a research report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. New Gold has a consensus rating of “Hold” and an average price target of $3.97.
New Gold (NGD) opened at $2.64 on Friday. The firm has a market capitalization of $1,580.00, a P/E ratio of -15.53, a price-to-earnings-growth ratio of 13.01 and a beta of 0.11. The company has a current ratio of 2.28, a quick ratio of 1.38 and a debt-to-equity ratio of 0.42. New Gold has a 12-month low of $2.54 and a 12-month high of $4.25.
New Gold (NYSEAMERICAN:NGD) last announced its quarterly earnings results on Tuesday, February 20th. The basic materials company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $193.50 million for the quarter, compared to the consensus estimate of $229.39 million. New Gold had a return on equity of 5.05% and a net margin of 20.49%. The business’s revenue for the quarter was up 37.5% on a year-over-year basis.
Several institutional investors have recently bought and sold shares of NGD. Cubist Systematic Strategies LLC acquired a new position in shares of New Gold in the third quarter valued at approximately $202,000. Paloma Partners Management Co grew its position in New Gold by 76.8% during the fourth quarter. Paloma Partners Management Co now owns 80,001 shares of the basic materials company’s stock worth $263,000 after buying an additional 34,753 shares in the last quarter. Virtu Financial LLC grew its position in New Gold by 397.1% during the third quarter. Virtu Financial LLC now owns 349,676 shares of the basic materials company’s stock worth $295,000 after buying an additional 279,337 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in New Gold during the fourth quarter worth approximately $425,000. Finally, Spark Investment Management LLC acquired a new stake in New Gold during the fourth quarter worth approximately $515,000. 51.53% of the stock is currently owned by institutional investors.
New Gold Company Profile
New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.
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