Q1 2019 EPS Estimates for New Gold Inc. (NGD) Decreased by Analyst

New Gold Inc. (NYSEAMERICAN:NGD) – Desjardins cut their Q1 2019 earnings estimates for shares of New Gold in a report released on Monday, April 16th. Desjardins analyst J. Wolfson now expects that the basic materials company will earn $0.01 per share for the quarter, down from their prior estimate of $0.03. Desjardins also issued estimates for New Gold’s Q2 2019 earnings at $0.01 EPS, Q3 2019 earnings at $0.01 EPS, Q4 2019 earnings at $0.01 EPS and FY2019 earnings at $0.04 EPS.

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A number of other brokerages also recently commented on NGD. Royal Bank of Canada reduced their price target on New Gold from $3.75 to $3.50 and set a “sector perform” rating for the company in a report on Tuesday, February 27th. Raymond James Financial reduced their price target on New Gold from $4.25 to $3.75 and set a “market perform” rating for the company in a report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $4.01.

Shares of NYSEAMERICAN NGD opened at $2.43 on Tuesday. New Gold has a 1-year low of $2.26 and a 1-year high of $4.25. The company has a current ratio of 2.28, a quick ratio of 1.38 and a debt-to-equity ratio of 0.42.

New Gold (NYSEAMERICAN:NGD) last issued its earnings results on Tuesday, February 20th. The basic materials company reported $0.01 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. New Gold had a negative return on equity of 32.21% and a negative net margin of 92.82%. The company had revenue of $193.50 million during the quarter, compared to the consensus estimate of $229.39 million. The company’s revenue was up 37.5% compared to the same quarter last year.

A number of large investors have recently added to or reduced their stakes in NGD. Cubist Systematic Strategies LLC bought a new position in New Gold during the 3rd quarter worth approximately $202,000. Ingalls & Snyder LLC lifted its holdings in New Gold by 3.7% during the 4th quarter. Ingalls & Snyder LLC now owns 8,870,375 shares of the basic materials company’s stock worth $29,184,000 after buying an additional 314,865 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in New Gold during the 4th quarter worth approximately $1,406,000. Commerzbank Aktiengesellschaft FI lifted its holdings in New Gold by 78.1% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,426,365 shares of the basic materials company’s stock worth $4,693,000 after buying an additional 625,283 shares during the last quarter. Finally, Exane Derivatives lifted its holdings in New Gold by 59.3% during the 4th quarter. Exane Derivatives now owns 1,311,301 shares of the basic materials company’s stock worth $4,313,000 after buying an additional 487,995 shares during the last quarter. 51.53% of the stock is currently owned by institutional investors.

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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 operating properties include the New Afton project located near Kamloops, British Columbia, Canada; the Mesquite mine located in Imperial County, California, the United States; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

Earnings History and Estimates for New Gold (NYSEAMERICAN:NGD)

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