New Gold (NYSE:NGD) Issues Quarterly Earnings Results

New Gold (NYSE:NGD) posted its earnings results on Tuesday. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04, Zacks reports. The firm had revenue of $252.00 million during the quarter. New Gold had a return on equity of 8.56% and a net margin of 2.33%.

New Gold Stock Up 1.1 %

NGD traded up $0.03 during trading hours on Friday, hitting $2.78. 8,348,264 shares of the company’s stock were exchanged, compared to its average volume of 8,138,938. The company has a market capitalization of $2.20 billion, a PE ratio of 136.75 and a beta of 1.30. New Gold has a 1-year low of $1.09 and a 1-year high of $3.25. The firm has a 50-day moving average price of $2.81. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.98 and a current ratio of 1.42.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NGD. CIBC boosted their price objective on New Gold from $3.00 to $3.40 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Scotiabank lifted their price target on shares of New Gold from $2.75 to $3.25 and gave the company a “sector outperform” rating in a research note on Tuesday, September 17th. Royal Bank of Canada increased their price objective on shares of New Gold from $3.00 to $3.50 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. StockNews.com raised shares of New Gold from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Cibc World Mkts upgraded New Gold to a “strong-buy” rating in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, New Gold currently has a consensus rating of “Buy” and an average price target of $3.08.

New Gold Company Profile

New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company’s principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.