New Gold Inc. (NYSEAMERICAN:NGD) – Investment analysts at Cormark reduced their Q2 2018 earnings per share estimates for New Gold in a report released on Thursday. Cormark analyst R. Gray now anticipates that the basic materials company will earn $0.03 per share for the quarter, down from their prior estimate of $0.04. Cormark also issued estimates for New Gold’s Q4 2018 earnings at $0.03 EPS and FY2018 earnings at $0.11 EPS.
New Gold (NYSEAMERICAN:NGD) last announced its quarterly earnings results on Tuesday, February 20th. The basic materials company reported $0.01 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.01. The company had revenue of $193.50 million for the quarter, compared to analysts’ expectations of $229.39 million. New Gold had a net margin of 20.49% and a return on equity of 5.05%. The firm’s revenue was up 37.5% compared to the same quarter last year.
Shares of New Gold (NYSEAMERICAN:NGD) opened at $2.64 on Monday. The company has a market cap of $1,580.00, a P/E ratio of -15.53, a P/E/G ratio of 13.01 and a beta of 0.11. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.38 and a current ratio of 2.28. New Gold has a 52 week low of $2.54 and a 52 week high of $4.25.
A number of institutional investors have recently bought and sold shares of NGD. Investec Asset Management LTD bought a new stake in New Gold during the 4th quarter worth approximately $11,516,000. Renaissance Technologies LLC increased its holdings in New Gold by 661.3% during the 4th quarter. Renaissance Technologies LLC now owns 3,231,700 shares of the basic materials company’s stock worth $10,632,000 after acquiring an additional 2,807,200 shares during the period. Kopernik Global Investors LLC increased its holdings in New Gold by 37.6% during the 4th quarter. Kopernik Global Investors LLC now owns 10,071,864 shares of the basic materials company’s stock worth $33,136,000 after acquiring an additional 2,754,539 shares during the period. Commerzbank Aktiengesellschaft FI increased its holdings in New Gold by 78.1% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,426,365 shares of the basic materials company’s stock worth $4,693,000 after acquiring an additional 625,283 shares during the period. Finally, Exane Derivatives increased its holdings in New Gold by 59.3% during the 4th quarter. Exane Derivatives now owns 1,311,301 shares of the basic materials company’s stock worth $4,313,000 after acquiring an additional 487,995 shares during the period. 51.53% of the stock is currently owned by institutional investors and hedge funds.
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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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