New Gold Inc. (NGD) Forecasted to Post Q3 2016 Earnings of $0.03 Per Share
New Gold Inc. (TSE:NGD) – Stock analysts at National Bank Financial reduced their Q3 2016 earnings per share estimates for shares of New Gold in a research note issued on Wednesday. National Bank Financial analyst S. Parsons now forecasts that the firm will post earnings of $0.03 per share for the quarter, down from their previous estimate of $0.05. National Bank Financial also issued estimates for New Gold’s FY2017 earnings at $0.09 EPS.
Several other equities analysts have also weighed in on the stock. Royal Bank Of Canada reiterated a “sector perform” rating on shares of New Gold in a report on Friday, October 7th. Desjardins upgraded shares of New Gold from a “hold” rating to a “buy” rating in a report on Friday, September 16th. Finally, Canaccord Genuity upgraded shares of New Gold from a “hold” rating to a “buy” rating and boosted their target price for the company from C$6.25 to C$7.75 in a report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. New Gold has an average rating of “Hold” and a consensus target price of C$5.18.
Shares of New Gold (TSE:NGD) traded down 1.90% during midday trading on Friday, reaching $5.15. 507,969 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $6.02 and its 200 day moving average price is $5.88. The stock’s market capitalization is $2.64 billion. New Gold has a 1-year low of $2.56 and a 1-year high of $7.87.
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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