Somewhat Positive Media Coverage Somewhat Unlikely to Affect New Gold (NGD) Stock Price
News stories about New Gold (NYSE:NGD) (TSE:NGD) have trended somewhat positive recently, according to Accern. The research group identifies positive and negative news coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. New Gold earned a news impact score of 0.06 on Accern’s scale. Accern also gave press coverage about the company an impact score of 47.3514985016192 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s scoring:
- Only the Technical Indicators on New Gold Inc. (NGD) – Wall Street Morning (wallstreetmorning.com)
- Contrasting Seabridge Gold (SA) & New Gold (NGD) (americanbankingnews.com)
- New Gold Inc. (NGD) Sees Large Decrease in Short Interest (hoyentv.com)
- New Gold Inc. (NGD) Receives Consensus Rating of “Hold” from Analysts (americanbankingnews.com)
Shares of New Gold (NGD) opened at 3.88 on Wednesday. The firm has a 50 day moving average price of $3.78 and a 200-day moving average price of $3.25. New Gold has a 12-month low of $2.39 and a 12-month high of $4.52. The company has a market cap of $2.24 billion and a price-to-earnings ratio of 40.00.
New Gold (NYSE:NGD) (TSE:NGD) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.02 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. The company had revenue of $185.60 million during the quarter, compared to analyst estimates of $181.17 million. New Gold had a net margin of 12.45% and a return on equity of 4.03%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the business earned ($0.02) EPS. On average, equities analysts expect that New Gold will post $0.06 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on NGD shares. Zacks Investment Research upgraded New Gold from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research note on Friday, September 29th. Royal Bank Of Canada set a $4.00 price target on New Gold and gave the company a “hold” rating in a research report on Wednesday, August 23rd. Raymond James Financial, Inc. reissued a “market perform” rating and set a $3.50 price objective on shares of New Gold in a report on Thursday, June 15th. Credit Suisse Group increased their price objective on New Gold from $3.00 to $3.30 and gave the stock a “neutral” rating in a report on Friday, September 29th. Finally, National Bank Financial raised New Gold from a “sector perform” rating to an “outperform” rating in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $4.09.
About New Gold
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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