New Gold Inc (TSE:NGD) (ARCA:NGD) – Analysts at Cormark increased their FY2018 earnings per share (EPS) estimates for New Gold in a research note issued on Thursday, October 25th. Cormark analyst R. Gray now forecasts that the company will earn ($0.10) per share for the year, up from their previous forecast of ($0.17). Cormark also issued estimates for New Gold’s FY2019 earnings at ($0.04) EPS.
A number of other equities research analysts also recently issued reports on NGD. National Bank Financial cut their price objective on shares of New Gold from C$5.50 to C$4.50 in a research report on Saturday, July 14th. Canaccord Genuity cut their price objective on shares of New Gold from C$4.50 to C$3.50 in a research report on Tuesday, July 24th. Eight Capital cut their price objective on shares of New Gold from C$3.50 to C$2.00 in a research report on Friday, July 27th. BMO Capital Markets lowered their target price on shares of New Gold from C$4.50 to C$2.25 in a research note on Friday, July 27th. Finally, Beacon Securities cut shares of New Gold from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of C$2.27.
About New Gold
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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