New Gold (TSE:NGD) Posts Quarterly Earnings Results

New Gold (TSE:NGD) (ARCA:NGD) posted its quarterly earnings data on Friday. The company reported C$1.13 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$661.46 million for the quarter. New Gold had a net margin of 20.16% and a return on equity of 22.39%.

New Gold Stock Performance

Shares of TSE NGD traded down C$0.27 during trading hours on Friday, reaching C$12.20. The stock had a trading volume of 214,032 shares, compared to its average volume of 2,497,189. The company has a market cap of C$9.66 billion, a price-to-earnings ratio of 38.13, a PEG ratio of -3.02 and a beta of 1.93. New Gold has a twelve month low of C$4.12 and a twelve month high of C$18.62. The business’s fifty day moving average is C$15.36 and its two-hundred day moving average is C$12.06. The company has a debt-to-equity ratio of 32.06, a current ratio of 0.88 and a quick ratio of 1.64.

Wall Street Analysts Forecast Growth

Separately, TD Securities raised New Gold from a “hold” rating to a “buy” rating and lifted their target price for the stock from C$7.50 to C$12.00 in a research report on Monday, December 1st. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, New Gold has an average rating of “Moderate Buy” and an average target price of C$10.61.

New Gold Company Profile

New Gold Inc is an intermediate gold mining company. The company has a portfolio of two producing assets: Rainy River Mine and New Afton Mine in Canada. Also, it has interests in the Cerro San Pedro Mine in Mexico. The company derives revenue from the sale of Gold, Copper, and Silver.