New Gold Inc. (TSE:NGD) (ARCA:NGD) – Cormark lowered their Q2 2018 earnings estimates for New Gold in a note issued to investors on Thursday. Cormark analyst R. Gray now forecasts that the company will earn $0.04 per share for the quarter, down from their prior estimate of $0.05. Cormark also issued estimates for New Gold’s Q4 2018 earnings at $0.04 EPS and FY2018 earnings at $0.14 EPS.
A number of other brokerages have also recently commented on NGD. Eight Capital reiterated a “buy” rating on shares of New Gold in a research report on Thursday, November 16th. Desjardins reiterated a “sell” rating on shares of New Gold in a research report on Monday, December 11th. Laurentian Bank of Canada reiterated a “buy” rating and issued a C$4.75 target price on shares of New Gold in a research report on Tuesday, December 19th. Laurentian set a C$4.75 target price on shares of New Gold and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Finally, Canaccord Genuity decreased their target price on shares of New Gold from C$5.75 to C$5.50 in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of C$5.22.
New Gold Company Profile
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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