New Gold Inc. (NYSE:NGD) (TSE:NGD) issued its quarterly earnings results on Wednesday. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01, Briefing.com reports. The company had revenue of $142.50 million for the quarter, compared to the consensus estimate of $176.12 million. New Gold had a return on equity of 4.03% and a net margin of 12.45%. New Gold’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 earnings per share.
New Gold (NGD) traded down 2.436% during trading on Thursday, hitting $3.405. The stock had a trading volume of 8,594,786 shares. The firm has a market cap of $1.96 billion and a P/E ratio of 35.103. New Gold has a 12-month low of $2.39 and a 12-month high of $4.52. The stock’s 50 day moving average price is $3.78 and its 200 day moving average price is $3.30.
A number of brokerages have issued reports on NGD. Zacks Investment Research upgraded New Gold from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Scotiabank increased their price target on New Gold from $3.00 to $4.00 and gave the stock a “sector perform” rating in a research report on Friday, September 29th. Royal Bank Of Canada increased their price target on New Gold from $3.75 to $4.25 and gave the stock a “sector perform” rating in a research report on Monday. National Bank Financial upgraded New Gold from a “sector perform” rating to an “outperform” rating in a research report on Monday, July 24th. Finally, Credit Suisse Group increased their price target on New Gold from $3.00 to $3.30 and gave the stock a “neutral” rating in a research report on Friday, September 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $4.12.
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.