Raymond James Comments on New Gold Inc.’s FY2021 Earnings (TSE:NGD)
New Gold Inc. (TSE:NGD) (ARCA:NGD) – Equities researchers at Raymond James lowered their FY2021 earnings per share estimates for shares of New Gold in a research report issued on Monday, April 5th. Raymond James analyst F. Hamed now expects that the company will post earnings per share of $0.21 for the year, down from their previous estimate of $0.24. Raymond James currently has a “Market Perform” rating and a $2.25 target price on the stock.
A number of other research firms have also commented on NGD. Canaccord Genuity lowered their price target on New Gold from C$3.75 to C$2.75 and set a “na” rating for the company in a research report on Monday, February 22nd. Scotiabank increased their price target on New Gold from C$2.50 to C$2.75 in a research report on Monday, January 11th. Finally, National Bank Financial reaffirmed an “outperform” rating and set a C$4.00 target price (down from C$4.25) on shares of New Gold in a research report on Friday, February 12th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. New Gold has an average rating of “Hold” and an average price target of C$2.56.
About New Gold
New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interests in the Rainy River gold-silver mine located in Ontario, Canada; and New Afton gold-copper mine located in British Columbia, Canada.
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