New Gold Inc (TSE:NGD) (ARCA:NGD) – Cormark cut their FY2018 EPS estimates for shares of New Gold in a research report issued on Wednesday, January 9th. Cormark analyst R. Gray now forecasts that the company will post earnings of ($0.11) per share for the year, down from their previous estimate of ($0.10). Cormark also issued estimates for New Gold’s FY2019 earnings at $0.00 EPS.
Other research analysts also recently issued research reports about the stock. BMO Capital Markets increased their price objective on shares of New Gold from C$1.25 to C$1.50 in a report on Wednesday. National Bank Financial increased their price objective on shares of New Gold from C$1.60 to C$1.70 and gave the company a “sector perform” rating in a report on Monday, November 12th. Canaccord Genuity dropped their price objective on shares of New Gold from C$1.50 to C$1.10 in a report on Thursday, October 18th. Finally, Eight Capital dropped their price objective on shares of New Gold from C$1.75 to C$1.35 in a report on Thursday, September 20th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. New Gold has an average rating of “Hold” and a consensus target price of C$1.32.
New Gold (TSE:NGD) (ARCA:NGD) last issued its earnings results on Wednesday, October 24th. The company reported C($0.01) earnings per share for the quarter, topping the consensus estimate of C($0.05) by C$0.04. The firm had revenue of C$192.25 million during the quarter, compared to the consensus estimate of C$245.55 million.
In other New Gold news, Director Renaud Adams bought 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The shares were purchased at an average cost of C$1.10 per share, for a total transaction of C$110,000.00. Also, insider Robert Joseph Chausse bought 230,000 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The shares were acquired at an average price of C$1.10 per share, for a total transaction of C$253,000.00.
About New Gold
New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the New Afton project located near Kamloops, British Columbia, Canada; the Mesquite mine located in Imperial County, California, the United States; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.
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