New Gold Inc (TSE:NGD) (ARCA:NGD) – Stock analysts at Cormark dropped their Q1 2019 EPS estimates for New Gold in a note issued to investors on Friday, September 21st. Cormark analyst R. Gray now forecasts that the company will post earnings per share of ($0.01) for the quarter, down from their previous estimate of $0.01. Cormark also issued estimates for New Gold’s Q2 2019 earnings at ($0.01) EPS, Q3 2019 earnings at ($0.01) EPS and Q4 2019 earnings at ($0.01) EPS.
Several other research firms have also commented on NGD. Desjardins dropped their price target on shares of New Gold from C$1.25 to C$0.75 and set a “sell” rating on the stock in a research report on Tuesday, September 4th. Canaccord Genuity upgraded shares of New Gold from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. Eight Capital dropped their price target on shares of New Gold from C$1.75 to C$1.35 in a research report on Thursday, September 20th. National Bank Financial dropped their price target on shares of New Gold from C$5.50 to C$4.50 in a research report on Saturday, July 14th. Finally, BMO Capital Markets dropped their price target on shares of New Gold from C$4.50 to C$2.25 in a research report on Friday, July 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of C$2.84.
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.
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