New Gold Inc. (TSE:NGD) (ARCA:NGD) – Analysts at Cormark lifted their Q2 2021 earnings estimates for shares of New Gold in a research report issued to clients and investors on Monday, July 19th. Cormark analyst R. Gray now anticipates that the company will post earnings of $0.05 per share for the quarter, up from their previous estimate of $0.04. Cormark also issued estimates for New Gold’s FY2023 earnings at $0.49 EPS.
Several other equities research analysts have also commented on NGD. National Bankshares cut their price target on shares of New Gold from C$4.00 to C$3.50 in a report on Friday, July 16th. Royal Bank of Canada reissued an “underperform” rating and issued a C$2.15 price target on shares of New Gold in a report on Friday, June 18th. National Bank Financial cut their price target on shares of New Gold to C$3.50 and set a “na” rating for the company in a report on Friday, July 16th. Finally, Canaccord Genuity lifted their target price on shares of New Gold from C$2.50 to C$3.00 and gave the stock a “na” rating in a research note on Friday, July 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of C$2.59.
New Gold (TSE:NGD) (ARCA:NGD) last issued its quarterly earnings results on Wednesday, May 5th. The company reported C$0.02 EPS for the quarter, hitting the consensus estimate of C$0.02. The company had revenue of C$208.83 million during the quarter.
About New Gold
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 principal operating properties include 100% interests in the Rainy River gold-silver mine located in Ontario, Canada; and New Afton gold-copper mine located in British Columbia, Canada.
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