New Gold (NYSE:NGD) Releases Earnings Results, Beats Estimates By $0.01 EPS

New Gold (NYSE:NGD) announced its quarterly earnings data on Tuesday. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01, Zacks reports. The business had revenue of $192.10 million for the quarter. New Gold had a negative net margin of 9.81% and a positive return on equity of 4.85%.

New Gold Stock Performance

Shares of NYSE:NGD traded down $0.01 during trading on Friday, reaching $1.81. The stock had a trading volume of 3,589,590 shares, compared to its average volume of 6,450,426. The stock has a market capitalization of $1.25 billion, a P/E ratio of -18.40, a price-to-earnings-growth ratio of 0.59 and a beta of 1.53. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.54. New Gold has a 52 week low of $0.86 and a 52 week high of $1.95.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. StockNews.com raised shares of New Gold from a “hold” rating to a “buy” rating in a research report on Wednesday. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of New Gold in a research report on Monday, April 8th. Finally, Scotiabank boosted their price objective on New Gold from $1.65 to $2.00 and gave the company a “sector perform” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, New Gold presently has an average rating of “Hold” and an average price target of $1.64.

Institutional Investors Weigh In On New Gold

A number of hedge funds have recently added to or reduced their stakes in the stock. Moloney Securities Asset Management LLC bought a new stake in shares of New Gold during the first quarter worth $42,000. HC Advisors LLC lifted its position in New Gold by 13.4% during the 4th quarter. HC Advisors LLC now owns 214,559 shares of the company’s stock valued at $313,000 after purchasing an additional 25,300 shares during the period. American Century Companies Inc. grew its position in shares of New Gold by 1.0% during the 3rd quarter. American Century Companies Inc. now owns 5,095,417 shares of the company’s stock worth $4,669,000 after buying an additional 48,886 shares during the period. Ingalls & Snyder LLC raised its stake in shares of New Gold by 116.6% during the fourth quarter. Ingalls & Snyder LLC now owns 123,842 shares of the company’s stock worth $181,000 after buying an additional 66,667 shares during the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new position in New Gold in the third quarter valued at approximately $61,000. Institutional investors own 42.82% of the company’s stock.

New Gold Company Profile

New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.