Somewhat Favorable News Coverage Somewhat Unlikely to Impact New Gold (NGD) Share Price
Headlines about New Gold (NYSE:NGD) have trended somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies negative and positive news coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. New Gold earned a coverage optimism score of 0.16 on Accern’s scale. Accern also assigned news headlines about the company an impact score of 47.1155678910111 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
NGD has been the topic of a number of research reports. Royal Bank Of Canada set a $4.00 target price on shares of New Gold and gave the company a “hold” rating in a research note on Tuesday, July 18th. Zacks Investment Research raised shares of New Gold from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a research note on Tuesday, May 23rd. Scotiabank reissued a “sector perform” rating and issued a $3.00 target price on shares of New Gold in a research note on Wednesday, April 26th. Raymond James Financial, Inc. reissued a “market perform” rating and issued a $3.50 target price on shares of New Gold in a research note on Thursday, June 15th. Finally, TD Securities reissued a “buy” rating and issued a $5.00 target price on shares of New Gold in a research note on Friday, April 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. New Gold presently has an average rating of “Hold” and a consensus price target of $3.79.
Shares of New Gold (NYSE:NGD) traded down 0.29% during trading on Friday, hitting $3.42. 4,082,291 shares of the stock were exchanged. The stock’s 50 day moving average is $3.15 and its 200-day moving average is $3.03. New Gold has a 12-month low of $2.39 and a 12-month high of $5.87. The stock has a market cap of $1.97 billion and a price-to-earnings ratio of 35.26.
New Gold (NYSE:NGD) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $0.02 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.02. New Gold had a net margin of 22.12% and a return on equity of 6.89%. The business had revenue of $185.60 million during the quarter, compared to analysts’ expectations of $181.17 million. During the same period in the previous year, the company earned ($0.02) earnings per share. New Gold’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts anticipate that New Gold will post $0.06 EPS for the current year.
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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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