New Gold (NYSE:NGD - Get Free Report) released its earnings results on Tuesday. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.04, Zacks reports. New Gold had a net margin of 2.33% and a return on equity of 8.56%. The business had revenue of $252.00 million during the quarter.
New Gold Stock Performance
NGD remained flat at $2.76 during trading on Friday. The company had a trading volume of 10,215,047 shares, compared to its average volume of 8,148,481. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.98. The stock has a market capitalization of $2.18 billion, a P/E ratio of 138.50 and a beta of 1.30. The firm's 50 day moving average price is $2.81. New Gold has a twelve month low of $1.09 and a twelve month high of $3.25.
Wall Street Analyst Weigh In
NGD has been the topic of several analyst reports. CIBC upped their target price on New Gold from $3.00 to $3.40 and gave the stock an "outperformer" rating in a report on Wednesday, July 10th. Cibc World Mkts upgraded shares of New Gold to a "strong-buy" rating in a report on Wednesday, July 10th. StockNews.com upgraded shares of New Gold from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Scotiabank boosted their price target on New Gold from $2.75 to $3.25 and gave the stock a "sector outperform" rating in a research report on Tuesday, September 17th. Finally, Royal Bank of Canada lifted their target price on New Gold from $3.00 to $3.50 and gave the stock an "outperform" rating in a research note on Tuesday, September 10th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $3.08.
Read Our Latest Stock Analysis on New Gold
About New Gold
(
Get Free Report)
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.
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