EQUITIES ANALYSTS SET PREDICTIONS FOR NEW GOLD INC’S Q1 2019 REVENUE (NYSEAMERICAN:NGD)

EQUITIES ANALYSTS SET PREDICTIONS FOR NEW GOLD INC’S Q1 2019 REVENUE (NYSEAMERICAN:NGD)

New Gold Inc (NYSEAMERICAN:NGD) – Equities research analysts at Cormark upped their Q1 2019 earnings per share estimates for New Gold in a report released on Wednesday, January 9th, according to Zacks Investment Research. Cormark analyst R. Gray now anticipates that the basic materials company will post earnings per share of $0.00 for the quarter, up from their prior estimate of ($0.01). Cormark also issued estimates for New Gold’s Q2 2019 earnings at $0.00 EPS, Q3 2019 earnings at $0.00 EPS, Q4 2019 earnings at $0.00 EPS, Q1 2020 earnings at $0.00 EPS, Q2 2020 earnings at $0.00 EPS, Q3 2020 earnings at $0.00 EPS, Q4 2020 earnings at $0.00 EPS and FY2020 earnings at $0.01 EPS.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. upgraded New Gold from an “underweight” rating to a “neutral” rating in a research report on Tuesday, January 8th. Royal Bank of Canada raised their price target on New Gold from $1.00 to $1.25 and gave the stock an “underperform” rating in a research report on Thursday, January 10th. National Bank Financial restated a “hold” rating on shares of New Gold in a research report on Monday, November 12th. BMO Capital Markets reiterated a “hold” rating on shares of New Gold in a research report on Thursday, November 1st. Finally, Zacks Investment Research lowered New Gold from a “buy” rating to a “hold” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. New Gold has an average rating of “Hold” and an average target price of $1.75.

NGD traded down $0.02 on Thursday, hitting $1.14. 2,959,033 shares of the company were exchanged, compared to its average volume of 3,691,982. New Gold has a 12 month low of $0.69 and a 12 month high of $2.99.

Several hedge funds have recently modified their holdings of the company. Kopernik Global Investors LLC grew its position in shares of New Gold by 32.4% in the 3rd quarter. Kopernik Global Investors LLC now owns 35,499,116 shares of the basic materials company’s stock worth $28,161,000 after buying an additional 8,693,991 shares during the last quarter. Exor Investments UK LLP grew its position in shares of New Gold by 43.0% in the 3rd quarter. Exor Investments UK LLP now owns 16,717,997 shares of the basic materials company’s stock worth $13,262,000 after buying an additional 5,028,121 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of New Gold by 65.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 14,972,656 shares of the basic materials company’s stock worth $11,846,000 after buying an additional 5,931,628 shares during the last quarter. Vanguard Group Inc grew its position in shares of New Gold by 3.3% in the 3rd quarter. Vanguard Group Inc now owns 13,817,177 shares of the basic materials company’s stock worth $10,961,000 after buying an additional 446,047 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of New Gold by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 13,817,177 shares of the basic materials company’s stock worth $10,961,000 after buying an additional 446,047 shares during the last quarter. Hedge funds and other institutional investors own 51.53% of the company’s stock.

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.

Share:
Scroll Up
error: Content is protected !!