New Gold Inc. (NYSEAMERICAN:NGD) – Equities research analysts at Raymond James decreased their Q2 2021 earnings estimates for New Gold in a research note issued on Monday, July 19th. Raymond James analyst F. Hamed now forecasts that the basic materials company will earn $0.04 per share for the quarter, down from their previous forecast of $0.05. Raymond James currently has a “Market Perform” rating and a $2.50 target price on the stock.
New Gold (NYSEAMERICAN:NGD) last released its earnings results on Wednesday, May 5th. The basic materials company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $164.90 million during the quarter. New Gold had a negative net margin of 5.38% and a positive return on equity of 5.10%.
NYSEAMERICAN:NGD opened at $1.67 on Wednesday. New Gold has a one year low of $1.40 and a one year high of $2.40. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.94 and a current ratio of 2.59. The firm has a market capitalization of $1.14 billion, a PE ratio of -27.83, a PEG ratio of 1.48 and a beta of 2.00. The firm has a 50 day moving average of $2.17.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Linscomb & Williams Inc. lifted its holdings in New Gold by 57.0% during the 1st quarter. Linscomb & Williams Inc. now owns 22,200 shares of the basic materials company’s stock worth $34,000 after buying an additional 8,060 shares during the last quarter. Moors & Cabot Inc. increased its position in shares of New Gold by 13.5% during the first quarter. Moors & Cabot Inc. now owns 82,250 shares of the basic materials company’s stock worth $127,000 after purchasing an additional 9,800 shares in the last quarter. NorthRock Partners LLC increased its position in shares of New Gold by 90.4% during the first quarter. NorthRock Partners LLC now owns 25,042 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 11,889 shares in the last quarter. Jane Street Group LLC increased its position in shares of New Gold by 5.7% during the first quarter. Jane Street Group LLC now owns 270,037 shares of the basic materials company’s stock worth $416,000 after purchasing an additional 14,614 shares in the last quarter. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of New Gold during the fourth quarter worth about $42,000. 34.50% of the stock is owned by institutional investors.
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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