New Gold Inc. (NGD) to Post FY2016 Earnings of $0.09 Per Share, National Bank Financial Forecasts
New Gold Inc. (TSE:NGD) – Equities research analysts at National Bank Financial decreased their FY2016 earnings per share (EPS) estimates for shares of New Gold in a note issued to investors on Wednesday. National Bank Financial analyst S. Parsons now anticipates that the firm will post earnings per share of $0.09 for the year, down from their previous forecast of $0.13.
Several other brokerages have also weighed in on NGD. Desjardins raised New Gold from a “hold” rating to a “buy” rating in a report on Friday, September 16th. Royal Bank Of Canada decreased their price target on New Gold from C$7.60 to C$7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 14th. Finally, Canaccord Genuity raised New Gold from a “hold” rating to a “buy” rating and boosted their price target for the company from C$6.25 to C$7.75 in a research note on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of C$5.18.
New Gold (TSE:NGD) opened at 5.09 on Monday. The company’s market cap is $2.61 billion. New Gold has a 52 week low of $2.56 and a 52 week high of $7.87. The company’s 50-day moving average price is $5.97 and its 200 day moving average price is $5.88.
About New Gold
New Gold Inc is a Canada-based intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. The Company has operating mines in Canada, the United States, Australia and Mexico and development projects in Canada. The Company’s segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other.
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