Q3 2017 Earnings Estimate for New Gold Inc. Issued By Cormark (NGD)
New Gold Inc. (TSE:NGD) (ARCA:NGD) – Stock analysts at Cormark raised their Q3 2017 earnings per share estimates for New Gold in a report released on Monday. Cormark analyst R. Gray now forecasts that the company will earn $0.03 per share for the quarter, up from their previous estimate of $0.01.
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A number of other equities analysts have also issued reports on the company. Scotiabank raised New Gold to a “sector perform” rating and set a C$5.00 price target for the company in a research note on Friday, September 29th. Canaccord Genuity increased their price target on New Gold from C$4.25 to C$4.75 in a research note on Friday, September 29th. Finally, National Bank Financial increased their price target on New Gold from C$5.00 to C$5.25 and gave the company an “outperform” rating in a research note on Friday, July 28th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of C$4.89.
New Gold (NGD) opened at 4.61 on Wednesday. The firm has a market capitalization of $2.66 billion and a PE ratio of 47.53. The company’s 50-day moving average price is $4.71 and its 200 day moving average price is $4.21. New Gold has a one year low of $3.11 and a one year high of $6.09.
In other news, Director James Estey sold 28,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of C$4.77, for a total transaction of C$133,560.00.
New Gold Company Profile
New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.
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