New Gold Inc. (NYSEAMERICAN:NGD – Get Rating) – Equities researchers at National Bank Financial dropped their FY2022 earnings per share (EPS) estimates for shares of New Gold in a research report issued to clients and investors on Monday, July 11th. National Bank Financial analyst M. Parkin now forecasts that the basic materials company will post earnings per share of $0.00 for the year, down from their prior forecast of $0.12. The consensus estimate for New Gold’s current full-year earnings is $0.13 per share. National Bank Financial also issued estimates for New Gold’s FY2023 earnings at $0.06 EPS.
A number of other research firms have also issued reports on NGD. BMO Capital Markets lowered their target price on New Gold from C$3.00 to C$2.00 in a report on Wednesday. TD Securities lowered their target price on New Gold from $1.75 to $0.85 and set a “hold” rating on the stock in a report on Wednesday. Raymond James lowered their target price on New Gold from $2.00 to $1.50 and set a “market perform” rating on the stock in a report on Wednesday. Canaccord Genuity Group raised New Gold from a “hold” rating to a “buy” rating in a report on Thursday, April 21st. Finally, TheStreet lowered New Gold from a “b-” rating to a “c” rating in a report on Thursday, May 19th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $1.56.
Shares of NYSEAMERICAN NGD opened at $0.74 on Thursday. The company has a current ratio of 2.38, a quick ratio of 1.68 and a debt-to-equity ratio of 0.61. The stock has a market cap of $504.15 million, a PE ratio of -14.78, a P/E/G ratio of 1.21 and a beta of 1.99. New Gold has a 52 week low of $0.67 and a 52 week high of $2.02.
New Gold (NYSEAMERICAN:NGD – Get Rating) last issued its quarterly earnings data on Monday, May 2nd. The basic materials company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. The business had revenue of $174.70 million for the quarter. New Gold had a positive return on equity of 8.82% and a negative net margin of 4.45%.
Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in shares of New Gold during the first quarter worth $33,000. Gotham Asset Management LLC acquired a new position in New Gold in the fourth quarter valued at about $40,000. Citigroup Inc. grew its stake in 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 acquiring an additional 12,707 shares during the period. Versor Investments LP acquired a new position in New Gold in the first quarter valued at about $42,000. Finally, Monaco Asset Management SAM acquired a new position in New Gold in the fourth quarter valued at about $43,000. 30.03% of the stock is owned by institutional investors and hedge funds.
About New Gold (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.
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