Cormark Weighs in on New Gold Inc’s Q1 2019 Earnings (NGD)
New Gold Inc (TSE:NGD) (ARCA:NGD) – Analysts at Cormark dropped their Q1 2019 earnings estimates for New Gold in a research report issued on Friday, September 21st. Cormark analyst R. Gray now anticipates that the company will post earnings per share of ($0.01) for the quarter, down from their previous estimate of $0.01. Cormark also issued estimates for New Gold’s Q2 2019 earnings at ($0.01) EPS, Q3 2019 earnings at ($0.01) EPS and Q4 2019 earnings at ($0.01) EPS.
A number of other research analysts have also recently issued reports on the company. Canaccord Genuity raised New Gold from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Desjardins reduced their price objective on New Gold from C$1.25 to C$0.75 and set a “sell” rating on the stock in a research note on Tuesday, September 4th. Eight Capital cut their target price on New Gold from C$3.50 to C$2.00 in a research note on Friday, July 27th. National Bank Financial cut New Gold from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$2.75 to C$1.70 in a research note on Thursday, August 9th. Finally, Beacon Securities cut New Gold from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. New Gold has a consensus rating of “Hold” and a consensus target price of C$2.84.
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.
Further Reading: Leveraged Buyout (LBO)
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