New Gold Inc. (NYSEAMERICAN:NGD) – Equities research analysts at Cormark reduced their Q1 2018 earnings per share (EPS) estimates for shares of New Gold in a report issued on Thursday. Cormark analyst R. Gray now forecasts that the basic materials company will post earnings per share of $0.02 for the quarter, down from their prior forecast of $0.03. Cormark also issued estimates for New Gold’s Q3 2018 earnings at $0.02 EPS, Q1 2019 earnings at $0.03 EPS, Q2 2019 earnings at $0.03 EPS, Q3 2019 earnings at $0.03 EPS, Q4 2019 earnings at $0.03 EPS and FY2019 earnings at $0.14 EPS.
New Gold (NYSEAMERICAN:NGD) last released its earnings results on Tuesday, February 20th. The basic materials company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $193.50 million for the quarter, compared to analysts’ expectations of $229.39 million. New Gold had a return on equity of 5.05% and a net margin of 20.49%. The business’s quarterly revenue was up 37.5% on a year-over-year basis.
New Gold (NGD) opened at $2.57 on Friday. The company has a market capitalization of $1,460.00, a P/E ratio of 25.70, a PEG ratio of 13.01 and a beta of 0.11. New Gold has a 52 week low of $2.54 and a 52 week high of $4.25. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.38 and a current ratio of 2.28.
A number of hedge funds and other institutional investors have recently made changes to their positions in NGD. Investec Asset Management LTD bought a new stake in New Gold during the 4th quarter valued at $11,516,000. Renaissance Technologies LLC boosted its position in New Gold by 661.3% during the 4th quarter. Renaissance Technologies LLC now owns 3,231,700 shares of the basic materials company’s stock valued at $10,632,000 after acquiring an additional 2,807,200 shares in the last quarter. Kopernik Global Investors LLC boosted its position in New Gold by 37.6% during the 4th quarter. Kopernik Global Investors LLC now owns 10,071,864 shares of the basic materials company’s stock valued at $33,136,000 after acquiring an additional 2,754,539 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in New Gold by 78.1% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,426,365 shares of the basic materials company’s stock valued at $4,693,000 after acquiring an additional 625,283 shares in the last quarter. Finally, Exane Derivatives boosted its position in New Gold by 59.3% during the 4th quarter. Exane Derivatives now owns 1,311,301 shares of the basic materials company’s stock valued at $4,313,000 after acquiring an additional 487,995 shares in the last quarter. 51.53% of the stock is currently owned by institutional investors and hedge funds.
About New Gold
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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