New Gold Inc. (NYSEAMERICAN:NGD – Get Rating) – Analysts at National Bank Financial issued their FY2022 EPS estimates for shares of New Gold in a report released on Wednesday, July 20th. National Bank Financial analyst M. Parkin expects that the basic materials company will post earnings of ($0.05) per share for the year. The consensus estimate for New Gold’s current full-year earnings is $0.13 per share. National Bank Financial also issued estimates for New Gold’s FY2023 earnings at ($0.07) EPS.
A number of other analysts also recently commented on NGD. Raymond James dropped their target price on shares of New Gold from $2.00 to $1.50 and set a “market perform” rating on the stock in a report on Wednesday, July 13th. Royal Bank of Canada dropped their target price on shares of New Gold from $1.50 to $1.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 12th. BMO Capital Markets cut their price target on shares of New Gold from C$3.00 to C$2.00 in a report on Wednesday, July 13th. TD Securities cut their price target on shares of New Gold from $1.75 to $0.85 and set a “hold” rating on the stock in a report on Wednesday, July 13th. Finally, TheStreet lowered shares of New Gold from a “b-” rating to a “c” rating in a report on Thursday, May 19th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, New Gold presently has an average rating of “Hold” and an average target price of $1.51.
New Gold Trading Down 1.1 %
NYSEAMERICAN NGD opened at $0.72 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.68 and a current ratio of 2.38. New Gold has a 12 month low of $0.67 and a 12 month high of $2.02. The company has a market capitalization of $489.07 million, a P/E ratio of -14.34, a price-to-earnings-growth ratio of 1.21 and a beta of 1.99.
New Gold (NYSEAMERICAN:NGD – Get Rating) last released its earnings results on Monday, May 2nd. The basic materials company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. New Gold had a negative net margin of 4.45% and a positive return on equity of 8.82%. The business had revenue of $174.70 million for the quarter.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in New Gold during the first quarter valued at approximately $33,000. Citigroup Inc. grew its position in New Gold by 127.1% in the first quarter. Citigroup Inc. now owns 22,707 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 12,707 shares in the last quarter. Versor Investments LP bought a new stake in New Gold in the first quarter worth approximately $42,000. Gotham Asset Management LLC bought a new stake in New Gold in the fourth quarter worth approximately $40,000. Finally, Monaco Asset Management SAM bought a new stake in New Gold in the fourth quarter worth approximately $43,000. 30.03% of the stock is owned by hedge funds and other institutional investors.
About New Gold
New Gold Inc, an intermediate gold mining company, engages in the exploration, 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 mine located in Ontario, Canada; and New Afton mine situated in British Columbia, Canada.
Further Reading
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Read More:New Gold Inc. Forecasted to Post FY2022 Earnings of ($0.05) Per Share (NYSEAMERICAN:NGD)
2022-07-25 06:06:04
