Q4 2017 EPS Estimates for New Gold Inc. Reduced by Beacon Securities (NGD)
New Gold Inc. (TSE:NGD) (ARCA:NGD) – Investment analysts at Beacon Securities reduced their Q4 2017 EPS estimates for shares of New Gold in a note issued to investors on Tuesday. Beacon Securities analyst M. Curran now expects that the company will post earnings of ($0.04) per share for the quarter, down from their previous estimate of ($0.02). Beacon Securities also issued estimates for New Gold’s FY2018 earnings at $0.22 EPS and FY2019 earnings at $0.33 EPS.
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Several other brokerages have also commented on NGD. National Bank Financial reissued an “outperform market weight” rating on shares of New Gold in a report on Sunday, July 23rd. Canaccord Genuity raised their price objective on New Gold from C$4.25 to C$4.75 in a report on Friday, September 29th. Finally, Scotiabank raised New Gold to a “sector perform” rating and set a C$5.00 price objective on the stock in a report on Friday, September 29th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. New Gold currently has a consensus rating of “Hold” and an average target price of C$5.00.
New Gold (TSE:NGD) opened at C$4.20 on Thursday.
In other news, Director James Estey sold 28,000 shares of New Gold stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of C$4.77, for a total value of C$133,560.00.
About New Gold
New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.
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