New Gold Inc. (NYSEAMERICAN:NGD) – Analysts at Cormark raised their Q4 2017 earnings estimates for New Gold in a research report issued on Thursday. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings per share of $0.03 for the quarter, up from their previous estimate of $0.01. Cormark also issued estimates for New Gold’s FY2018 earnings at $0.13 EPS.
New Gold (NYSEAMERICAN:NGD) last issued its earnings results on Wednesday, October 25th. The basic materials company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. New Gold had a return on equity of 5.05% and a net margin of 20.49%. The business had revenue of $142.50 million during the quarter, compared to analyst estimates of $176.12 million. During the same period in the previous year, the company posted $0.03 EPS. The firm’s revenue was up 23.7% compared to the same quarter last year.
Shares of New Gold (NYSEAMERICAN:NGD) opened at $3.11 on Monday. New Gold has a 12-month low of $2.39 and a 12-month high of $4.41. The company has a market capitalization of $1,790.00, a PE ratio of 31.10, a P/E/G ratio of 13.01 and a beta of 0.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.28 and a quick ratio of 1.38.
Several hedge funds have recently modified their holdings of the stock. Ingalls & Snyder LLC raised its position in shares of New Gold by 3.7% in the fourth quarter. Ingalls & Snyder LLC now owns 8,870,375 shares of the basic materials company’s stock worth $29,184,000 after buying an additional 314,865 shares in the last quarter. Virtu Financial LLC raised its position in shares of New Gold by 397.1% in the third quarter. Virtu Financial LLC now owns 349,676 shares of the basic materials company’s stock worth $295,000 after buying an additional 279,337 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of New Gold in the third quarter worth $202,000. Institutional investors own 51.53% of the company’s stock.
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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