New Gold (NYSE:NGD) Announces Earnings Results

New Gold (NYSE:NGD) released its quarterly earnings data on Tuesday. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04, Zacks reports. The company had revenue of $252.00 million for the quarter. New Gold had a return on equity of 8.56% and a net margin of 2.33%.

New Gold Price Performance

NGD traded up $0.08 during midday trading on Friday, hitting $2.83. 5,886,886 shares of the company’s stock traded hands, compared to its average volume of 8,130,455. The company’s fifty day moving average price is $2.81. New Gold has a one year low of $1.09 and a one year high of $3.25. The stock has a market capitalization of $2.24 billion, a P/E ratio of 136.75 and a beta of 1.30. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 0.45.

Analyst Ratings Changes

NGD has been the subject of a number of research reports. Royal Bank of Canada lifted their price objective on New Gold from $3.00 to $3.50 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank upped their target price on shares of New Gold from $2.75 to $3.25 and gave the company a “sector outperform” rating in a report on Tuesday, September 17th. StockNews.com upgraded shares of New Gold from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. CIBC upped their price objective on New Gold from $3.00 to $3.40 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Cibc World Mkts upgraded shares of New Gold to a “strong-buy” rating in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $3.08.

New Gold Company Profile

New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company’s principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.