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

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New Gold Inc (TSE:NGD) (ARCA:NGD) – Analysts at Cormark decreased their FY2018 earnings per share (EPS) estimates for New Gold in a research report issued on Wednesday, January 9th. Cormark analyst R. Gray now forecasts that the company will earn ($0.11) per share for the year, down from their previous 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 announced its quarterly earnings data on Wednesday, October 24th. The company reported C($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of C($0.05) by C$0.04. The firm had revenue of C$192.25 million during the quarter, compared to analysts’ expectations of C$245.55 million.

Other research analysts have also issued research reports about the company. Canaccord Genuity decreased their price objective on New Gold from C$1.50 to C$1.10 in a report on Thursday, October 18th. BMO Capital Markets lifted their price target on New Gold from C$1.25 to C$1.50 in a report on Wednesday. Eight Capital reduced their price target on New Gold from C$1.75 to C$1.35 in a report on Thursday, September 20th. Finally, National Bank Financial lifted their price target on 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. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of C$1.32.

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

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

About New Gold

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.

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

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