New Gold Inc. (TSE:NGD) (ARCA:NGD) – Equities research analysts at National Bank Financial cut their FY2019 earnings per share (EPS) estimates for New Gold in a research note issued on Wednesday, Zacks Investment Research reports. National Bank Financial analyst M. Parkin now expects that the company will earn $0.36 per share for the year, down from their previous estimate of $0.37.
Several other equities analysts also recently weighed in on the stock. Laurentian Bank of Canada reissued a “buy” rating and issued a C$4.75 price target on shares of New Gold in a research note on Tuesday, December 19th. Desjardins reissued a “sell” rating on shares of New Gold in a research note on Monday, December 11th. Eight Capital decreased their price target on shares of New Gold from C$5.50 to C$5.00 in a research note on Thursday, January 18th. Laurentian set a C$4.75 price target on shares of New Gold and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Finally, Canaccord Genuity decreased their price target on shares of New Gold from C$5.75 to C$5.50 in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of C$5.29.
New Gold (TSE NGD) traded down C$0.06 during trading hours on Monday, hitting C$3.09. 432,374 shares of the stock traded hands, compared to its average volume of 1,093,534. The stock has a market capitalization of $1,830.00, a P/E ratio of -14.27 and a beta of -0.13. New Gold has a 12-month low of C$3.02 and a 12-month high of C$5.16.
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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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