Brokers

Brokers Offer Predictions for New Gold Inc.’s Q3 2022 Earnings (NYSEAMERICAN:NGD)


New Gold Inc. (NYSEAMERICAN:NGDGet Rating) – Investment analysts at Raymond James reduced their Q3 2022 earnings per share estimates for New Gold in a report released on Tuesday, July 12th. Raymond James analyst F. Hamed now expects that the basic materials company will earn ($0.01) per share for the quarter, down from their previous estimate of $0.03. Raymond James currently has a “Market Perform” rating and a $1.50 target price on the stock. The consensus estimate for New Gold’s current full-year earnings is $0.13 per share. Raymond James also issued estimates for New Gold’s Q4 2022 earnings at ($0.01) EPS, Q1 2023 earnings at $0.03 EPS, Q2 2023 earnings at $0.02 EPS, Q3 2023 earnings at $0.02 EPS and Q4 2023 earnings at $0.02 EPS.

NGD has been the topic of several other research reports. TheStreet lowered New Gold from a “b-” rating to a “c” rating in a research report on Thursday, May 19th. National Bank Financial cut their target price on New Gold from C$2.50 to C$1.50 in a research report on Tuesday. TD Securities cut their target price on New Gold from $1.75 to $0.85 and set a “hold” rating on the stock in a research report on Wednesday. Canaccord Genuity Group upgraded New Gold from a “hold” rating to a “buy” rating in a research report on Thursday, April 21st. Finally, BMO Capital Markets cut their price target on New Gold from C$3.00 to C$2.00 in a report on Wednesday. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $1.56.

Shares of New Gold stock opened at $0.80 on Thursday. New Gold has a one year low of $0.96 and a one year high of $2.02. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.68 and a current ratio of 2.38. The stock has a market cap of $543.64 million, a P/E ratio of -15.94, a price-to-earnings-growth ratio of 1.21 and a beta of 1.99.

New Gold (NYSEAMERICAN:NGDGet Rating) last announced its earnings results on Monday, May 2nd. The basic materials company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. New Gold had a positive return on equity of 8.82% and a negative net margin of 4.45%. The company had revenue of $174.70 million for the quarter.

A number of large investors have recently made changes to their positions in the business. Shell Asset Management Co. lifted its holdings in shares of New Gold by 14.5% in the fourth quarter. Shell Asset Management Co. now owns 78,920 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 10,000 shares in the last quarter. Profund Advisors LLC lifted its holdings in shares of New Gold by 22.0% in the first quarter. Profund Advisors LLC now owns 61,863 shares of the basic materials company’s stock valued at $111,000 after purchasing an additional 11,145 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of New Gold by 127.1% in the first quarter. Citigroup Inc. now owns 22,707 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 12,707 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of New Gold by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 806,010 shares of the basic materials company’s stock valued at $1,451,000 after purchasing an additional 13,914 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of New Gold by 47.4% in the first quarter. Bank of New York Mellon Corp now owns 43,611 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 14,033 shares in the last quarter. Institutional investors and hedge funds own 30.03% of the company’s stock.

New Gold Company Profile (Get Rating)

New Gold Inc, an intermediate gold mining company, engages in the exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company’s principal operating properties include 100% interests in the Rainy River mine located in Ontario, Canada; and New Afton mine situated in British Columbia, Canada.

Featured Articles

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



Receive News & Ratings for New Gold Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for New Gold and related companies with MarketBeat.com’s FREE daily email newsletter.

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.