National Bank Financial Brokers Lift Earnings Estimates for New Gold Inc. (NGD)
New Gold Inc. (TSE:NGD) (ARCA:NGD) – Research analysts at National Bank Financial lifted their FY2018 earnings estimates for New Gold in a research report issued on Wednesday. National Bank Financial analyst M. Parkin now forecasts that the company will post earnings of $0.25 per share for the year, up from their prior forecast of $0.24.
A number of other analysts have also recently commented on the stock. Canaccord Genuity cut their target price on shares of New Gold from C$5.75 to C$5.50 in a research note on Friday. Eight Capital cut their target price on shares of New Gold from C$5.50 to C$5.00 in a research note on Thursday, January 18th. Laurentian Bank of Canada reissued a “buy” rating and set a C$4.75 target price on shares of New Gold in a research note on Tuesday, December 19th. Laurentian set a C$4.75 target price on shares of New Gold and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Finally, Desjardins reissued a “sell” rating on shares of New Gold in a research note on Monday, December 11th. Four analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. New Gold has an average rating of “Hold” and a consensus price target of C$4.94.
New Gold (TSE:NGD) (ARCA:NGD) last issued its quarterly earnings data on Wednesday, October 25th. The company reported C$0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of C$0.01. New Gold had a net margin of 20.49% and a return on equity of 5.05%.
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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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