Brokers Issue Forecasts for New Gold Inc.’s Q4 2017 Earnings (NGD)
New Gold Inc. (TSE:NGD) (ARCA:NGD) – Investment analysts at Beacon Securities dropped their Q4 2017 earnings per share estimates for shares of New Gold in a research note issued to investors on Tuesday. Beacon Securities analyst M. Curran now forecasts that the company will post earnings of ($0.04) per share for the quarter, down from their previous forecast of ($0.02). Beacon Securities also issued estimates for New Gold’s FY2018 earnings at $0.22 EPS and FY2019 earnings at $0.33 EPS.
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Other equities analysts also recently issued research reports about the company. National Bank Financial raised their target price on New Gold from C$5.00 to C$5.25 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Canaccord Genuity raised their target price on New Gold from C$4.25 to C$4.75 in a research report on Friday, September 29th. Finally, Scotiabank upgraded New Gold to a “sector perform” rating and set a C$5.00 price objective for the company in a research report on Friday, September 29th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of C$5.00.
In related news, Director James Estey sold 28,000 shares of New Gold stock in a transaction on Friday, September 15th. The stock was sold at an average price of C$4.77, for a total transaction of C$133,560.00.
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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