Desjardins Analysts Cut Earnings Estimates for New Gold Inc. (NGD)
New Gold Inc. (TSE:NGD) (ARCA:NGD) – Equities researchers at Desjardins lowered their FY2018 earnings estimates for shares of New Gold in a research note issued to investors on Friday. Desjardins analyst J. Wolfson now anticipates that the company will post earnings per share of $0.11 for the year, down from their previous forecast of $0.12. Desjardins currently has a “Sell” rating on the stock.
Several other equities research analysts have also recently weighed in on the company. Laurentian Bank of Canada restated a “buy” rating and set a C$4.75 target price on shares of New Gold in a research note on Tuesday, December 19th. Laurentian set a C$4.75 target price on New Gold and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Eight Capital reiterated a “buy” rating on shares of New Gold in a research note on Thursday, November 16th. Canaccord Genuity upgraded New Gold from a “hold” rating to a “buy” rating and increased their price target for the company from C$4.75 to C$5.75 in a research note on Friday, October 20th. Finally, Scotiabank upgraded New Gold to a “sector perform” rating and set a C$5.00 price target for the company in a research note on Friday, September 29th. Four analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of C$4.95.
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New Gold Company Profile
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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