FY2018 EPS Estimates for New Gold Inc. (NGD) Boosted by National Bank Financial
New Gold Inc. (NYSEAMERICAN:NGD) – Equities researchers at National Bank Financial lifted their FY2018 EPS estimates for New Gold in a research report issued on Wednesday. National Bank Financial analyst M. Parkin now expects that the basic materials company will post earnings of $0.20 per share for the year, up from their prior forecast of $0.19. National Bank Financial also issued estimates for New Gold’s FY2020 earnings at $0.28 EPS.
NGD has been the subject of a number of other reports. Scotiabank boosted their target price on shares of New Gold from $3.00 to $4.00 and gave the stock a “sector perform” rating in a research note on Friday, September 29th. BidaskClub downgraded shares of New Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 17th. Zacks Investment Research raised shares of New Gold from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Friday, September 29th. Royal Bank of Canada boosted their target price on shares of New Gold from $3.75 to $4.25 and gave the stock a “sector perform” rating in a research note on Monday, October 23rd. Finally, Credit Suisse Group boosted their target price on shares of New Gold from $3.00 to $3.30 and gave the stock a “neutral” rating in a research note on Friday, September 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $4.12.
New Gold (NYSEAMERICAN:NGD) last released its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $0.01 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.01. The firm had revenue of $142.50 million for the quarter, compared to analyst estimates of $176.12 million. New Gold had a net margin of 20.49% and a return on equity of 5.05%. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share.
Several institutional investors and hedge funds have recently bought and sold shares of NGD. Ingalls & Snyder LLC raised its stake in shares of New Gold by 3.7% during the fourth quarter. Ingalls & Snyder LLC now owns 8,870,375 shares of the basic materials company’s stock worth $29,184,000 after buying an additional 314,865 shares during the last quarter. Virtu Financial LLC raised its stake in shares of New Gold by 397.1% during the third quarter. Virtu Financial LLC now owns 349,676 shares of the basic materials company’s stock worth $295,000 after buying an additional 279,337 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of New Gold during the third quarter worth approximately $202,000. 51.53% of the stock is owned by institutional investors and hedge funds.
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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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