New Gold Inc. Forecasted to Earn Q3 2016 Earnings of $0.03 Per Share (NGD)

New Gold Inc. (TSE:NGD) – Equities research analysts at National Bank Financial dropped their Q3 2016 earnings estimates for New Gold in a report issued on Wednesday. National Bank Financial analyst S. Parsons now anticipates that the brokerage will post earnings of $0.03 per share for the quarter, down from their previous estimate of $0.05. National Bank Financial also issued estimates for New Gold’s FY2017 earnings at $0.09 EPS.

Several other equities analysts have also recently issued reports on NGD. Royal Bank Of Canada reiterated a “sector perform” rating on shares of New Gold in a research report on Wednesday, June 29th. Desjardins cut New Gold from a “buy” rating to a “hold” rating in a research report on Wednesday, September 7th. Finally, Canaccord Genuity upgraded New Gold from a “hold” rating to a “buy” rating and lifted their price target for the company from C$6.25 to C$7.75 in a research report on Tuesday, July 12th. One 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 presently has an average rating of “Hold” and an average target price of C$5.18.

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

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

About New Gold

New Gold Inc is a Canada-based intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. The Company has operating mines in Canada, the United States, Australia and Mexico and development projects in Canada. The Company’s segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other.

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