New Gold (NYSE:NGD) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

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

New Gold Stock Performance

Shares of NYSE:NGD traded up $0.04 during trading on Friday, hitting $2.79. The company’s stock had a trading volume of 7,524,069 shares, compared to its average volume of 8,135,794. The stock has a market capitalization of $2.21 billion, a P/E ratio of 136.75 and a beta of 1.30. New Gold has a fifty-two week low of $1.09 and a fifty-two week high of $3.25. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The firm’s 50-day simple moving average is $2.81.

Analyst Upgrades and Downgrades

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

Read Our Latest Research Report on NGD

New Gold Company Profile

(Get Free Report)

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.

See Also

Earnings History for New Gold (NYSE:NGD)

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