FY2016 Earnings Estimate for New Gold Inc. (NGD) Issued By National Bank Financial
New Gold Inc. (TSE:NGD) – Research analysts at National Bank Financial dropped their FY2016 earnings estimates for shares of New Gold in a report issued on Wednesday. National Bank Financial analyst S. Parsons now anticipates that the firm will post earnings per share of $0.09 for the year, down from their prior forecast of $0.13.
Other analysts have also recently issued reports about the company. Canaccord Genuity upgraded New Gold from a “hold” rating to a “buy” rating and raised their price target for the company from C$6.25 to C$7.75 in a research note on Tuesday, July 12th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of New Gold in a report on Wednesday, June 29th. Finally, Desjardins lowered New Gold from a “buy” rating to a “hold” rating in a report on Wednesday, September 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. New Gold presently has a consensus rating of “Hold” and a consensus target price of C$5.18.
New Gold (TSE:NGD) opened at 5.44 on Monday. New Gold has a 12-month low of $2.56 and a 12-month high of $7.87. The firm’s market cap is $2.79 billion. The company has a 50-day moving average price of $5.90 and a 200-day moving average price of $5.90.
New Gold Company Profile
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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