Research Analysts Issue Forecasts for New Gold Inc.’s Q3 2017 Earnings (NGD)
New Gold Inc. (TSE:NGD) – Cormark reduced their Q3 2017 earnings per share estimates for New Gold in a research note issued on Thursday. Cormark analyst R. Gray now expects that the firm will post earnings of $0.08 per share for the quarter, down from their prior estimate of $0.11. Cormark also issued estimates for New Gold’s Q4 2017 earnings at $0.08 EPS and FY2017 earnings at $0.25 EPS.
NGD has been the topic of a number of other reports. Desjardins upgraded shares of New Gold from a “hold” rating to a “buy” rating in a research note on Friday, September 16th. National Bank Financial dropped their price target on shares of New Gold from C$8.10 to C$7.75 in a research note on Thursday, September 8th. Royal Bank Of Canada dropped their price target on shares of New Gold from C$7.60 to C$7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 14th. Finally, Canaccord Genuity upgraded shares of New Gold from a “hold” rating to a “buy” rating and upped their price target for the company from C$6.25 to C$7.75 in a research note on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of C$5.18.
Shares of New Gold (TSE:NGD) opened at 5.14 on Monday. The firm’s 50 day moving average is $6.20 and its 200-day moving average is $5.87. New Gold has a 1-year low of $2.56 and a 1-year high of $7.87. The company’s market cap is $2.64 billion.
About New Gold
New Gold Inc is a Canada-based intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. The Company has operating mines in Canada, the United States, Australia and Mexico and development projects in Canada. The Company’s segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other.
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