FY2018 Earnings Estimate for New Gold Inc (NGD) Issued By Cormark

New Gold Inc (NYSEAMERICAN:NGD) – Investment analysts at Cormark increased their FY2018 earnings estimates for New Gold in a report issued on Thursday, October 25th. Cormark analyst R. Gray now expects that the basic materials company will earn ($0.08) per share for the year, up from their prior estimate of ($0.13). Cormark also issued estimates for New Gold’s FY2019 earnings at ($0.03) EPS.

NGD has been the subject of several other research reports. Zacks Investment Research upgraded New Gold from a “strong sell” rating to a “hold” rating in a research note on Friday. Raymond James set a $1.25 price target on New Gold and gave the stock a “market perform” rating in a research note on Friday. Credit Suisse Group downgraded New Gold from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $2.20 to $1.60 in a research note on Thursday, July 26th. Scotiabank downgraded New Gold from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 8th. Finally, Canaccord Genuity downgraded New Gold from a “buy” rating to a “sell” rating in a research note on Thursday, July 26th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company. New Gold presently has a consensus rating of “Hold” and a consensus target price of $1.87.



Shares of NGD stock opened at $0.79 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.38 and a current ratio of 2.28. New Gold has a fifty-two week low of $0.69 and a fifty-two week high of $3.57.

New Gold (NYSEAMERICAN:NGD) last issued its earnings results on Wednesday, October 24th. The basic materials company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. New Gold had a negative return on equity of 32.21% and a negative net margin of 92.82%. The company had revenue of $147.10 million for the quarter, compared to analyst estimates of $189.47 million.

A number of large investors have recently made changes to their positions in NGD. Wells Fargo & Company MN boosted its stake in New Gold by 22.1% during the 1st quarter. Wells Fargo & Company MN now owns 1,030,248 shares of the basic materials company’s stock valued at $2,658,000 after purchasing an additional 186,237 shares during the period. Commonwealth Equity Services LLC boosted its stake in New Gold by 26.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 103,765 shares of the basic materials company’s stock valued at $267,000 after purchasing an additional 21,800 shares during the period. Jane Street Group LLC boosted its stake in New Gold by 31.4% during the 1st quarter. Jane Street Group LLC now owns 227,329 shares of the basic materials company’s stock valued at $587,000 after purchasing an additional 54,374 shares during the period. Guggenheim Capital LLC boosted its stake in New Gold by 18.8% during the 1st quarter. Guggenheim Capital LLC now owns 559,383 shares of the basic materials company’s stock valued at $1,444,000 after purchasing an additional 88,719 shares during the period. Finally, Millennium Management LLC boosted its stake in New Gold by 2,583.0% during the 1st quarter. Millennium Management LLC now owns 1,697,213 shares of the basic materials company’s stock valued at $4,379,000 after purchasing an additional 1,633,956 shares during the period. Hedge funds and other institutional investors own 51.53% of the company’s stock.

New Gold Company Profile

New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the New Afton project located near Kamloops, British Columbia, Canada; the Mesquite mine located in Imperial County, California, the United States; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

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

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