The New Gold Inc. to Post Q3 2016 Earnings of $0.03 Per Share, National Bank Financial Forecasts (NGD)

The New Gold Inc. to Post Q3 2016 Earnings of $0.03 Per Share, National Bank Financial Forecasts (NGD)

New Gold Inc. (TSE:NGD) – Research analysts at National Bank Financial cut their Q3 2016 EPS estimates for New Gold in a note issued to investors on Wednesday. National Bank Financial analyst S. Parsons now anticipates that the brokerage will earn $0.03 per share for the quarter, down from their prior forecast of $0.05. National Bank Financial also issued estimates for New Gold’s FY2017 earnings at $0.09 EPS.

Several other analysts have also weighed in on the company. Royal Bank Of Canada reissued a “sector perform” rating on shares of New Gold in a report on Friday, October 7th. Desjardins raised New Gold from a “hold” rating to a “buy” rating in a report on Friday, September 16th. Finally, Canaccord Genuity raised New Gold from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$6.25 to C$7.75 in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. New Gold has a consensus rating of “Hold” and a consensus target price of C$5.18.

New Gold (TSE:NGD) opened at 5.09 on Friday. New Gold has a 12-month low of $2.56 and a 12-month high of $7.87. The firm’s market capitalization is $2.61 billion. The company’s 50-day moving average price is $5.97 and its 200-day moving average price is $5.88.

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