New Gold (NYSEAMERICAN:NGD) Issues Earnings Results
New Gold (NYSEAMERICAN:NGD) released its quarterly earnings data on Wednesday. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01), Fidelity Earnings reports. The business had revenue of $168.40 million during the quarter.
NYSEAMERICAN:NGD traded up $0.01 during trading hours on Friday, hitting $0.86. 185,113 shares of the stock were exchanged, compared to its average volume of 4,772,864. The company’s 50 day moving average is $1.20 and its two-hundred day moving average is $0.98. New Gold has a twelve month low of $0.61 and a twelve month high of $1.56.
A number of equities research analysts have weighed in on the company. Raymond James set a $1.25 price objective on New Gold and gave the company a “market perform” rating in a report on Thursday. CIBC set a $1.40 price objective on New Gold and gave the company a “hold” rating in a report on Tuesday, October 15th. Canaccord Genuity reaffirmed a “hold” rating on shares of New Gold in a report on Friday, July 19th. Royal Bank of Canada raised New Gold from an “underperform” rating to a “sector perform” rating and lifted their price objective for the company from $1.00 to $1.30 in a report on Thursday, September 5th. Finally, Zacks Investment Research raised New Gold from a “hold” rating to a “buy” rating and set a $1.00 price objective on the stock in a report on Saturday, October 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $1.17.
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 Rainy River project located in Ontario, Canada; the New Afton project located near Kamloops, British Columbia, Canada; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.
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