New Gold (NYSEAMERICAN:NGD) announced its quarterly earnings results on Wednesday. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.01), Fidelity Earnings reports. The business had revenue of $168.40 million for the quarter.
New Gold stock traded up $0.01 during trading hours on Friday, reaching $0.86. 3,558,700 shares of the company’s stock traded hands, compared to its average volume of 4,767,268. New Gold has a fifty-two week low of $0.61 and a fifty-two week high of $1.56. The firm’s 50 day moving average is $1.20 and its 200-day moving average is $0.98.
Several research firms have recently weighed in on NGD. Royal Bank of Canada raised shares of New Gold from an “underperform” rating to a “sector perform” rating and upped their target price for the stock from $1.00 to $1.30 in a report on Thursday, September 5th. CIBC set a $1.40 target price on shares of New Gold and gave the stock a “hold” rating in a report on Tuesday, October 15th. Raymond James set a $1.25 target price on shares of New Gold and gave the stock a “market perform” rating in a report on Thursday. Zacks Investment Research raised shares of New Gold from a “hold” rating to a “buy” rating and set a $1.00 target price on the stock in a report on Saturday, October 26th. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of New Gold in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $1.17.
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 operating properties include the Rainy River project located in Ontario, Canada; the New Afton project located near Kamloops, British Columbia, Canada; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.
Read More: Buy Rating
Receive News & Ratings for New Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Gold and related companies with MarketBeat.com's FREE daily email newsletter.