FY2017 EPS Estimates for New Gold Inc. (NGD) Lifted by Analyst

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Equities research analysts at Cormark upped their FY2017 earnings per share (EPS) estimates for shares of New Gold in a report issued on Thursday. Cormark analyst R. Gray now forecasts that the company will earn $0.10 per share for the year, up from their prior forecast of $0.08. Cormark also issued estimates for New Gold’s Q2 2018 earnings at $0.05 EPS, Q4 2018 earnings at $0.05 EPS, FY2018 earnings at $0.16 EPS, Q1 2019 earnings at $0.05 EPS, Q2 2019 earnings at $0.05 EPS, Q3 2019 earnings at $0.05 EPS, Q4 2019 earnings at $0.05 EPS and FY2019 earnings at $0.21 EPS.

New Gold (TSE:NGD) (ARCA:NGD) last released its quarterly earnings results on Wednesday, October 25th. The company reported C$0.01 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of C$0.01. New Gold had a return on equity of 5.05% and a net margin of 20.49%.

Several other research analysts have also recently weighed in on NGD. Eight Capital decreased their target price on New Gold from C$5.50 to C$5.00 in a research note on Thursday. Canaccord Genuity raised their target price on New Gold from C$4.25 to C$4.75 in a research note on Friday, September 29th. Scotiabank raised New Gold to a “sector perform” rating and set a C$5.00 target price for the company in a research note on Friday, September 29th. Laurentian set a C$4.75 target price on New Gold and gave the company a “buy” rating in a research note on Tuesday, December 19th. Finally, Desjardins reaffirmed a “sell” rating on shares of New Gold in a research note on Monday, December 11th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of C$4.96.

New Gold (NGD) traded down C$0.10 during trading hours on Friday, hitting C$3.87. The stock had a trading volume of 1,955,379 shares, compared to its average volume of 1,130,396. New Gold has a 12 month low of C$3.11 and a 12 month high of C$5.79. The company has a market capitalization of $2,230.00, a PE ratio of 32.25 and a beta of -0.28.

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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.

Earnings History and Estimates for New Gold (TSE:NGD)

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