New Gold (NYSE:NGD) Issues Quarterly Earnings Results

New Gold (NYSE:NGD) issued its quarterly earnings data 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. The company had revenue of $252.00 million during the quarter. New Gold had a return on equity of 8.56% and a net margin of 2.33%.

New Gold Stock Performance

New Gold stock traded up $0.04 during midday trading on Friday, reaching $2.79. The company’s stock had a trading volume of 7,623,922 shares, compared to its average volume of 8,134,959. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 136.75 and a beta of 1.30. New Gold has a fifty-two week low of $1.09 and a fifty-two week high of $3.25. The company’s 50 day simple moving average is $2.81. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 0.45.

Wall Street Analysts Forecast Growth

NGD has been the subject of a number of recent research reports. Royal Bank of Canada increased their price target on shares of New Gold from $3.00 to $3.50 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. StockNews.com raised New Gold from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Cibc World Mkts raised New Gold to a “strong-buy” rating in a research note on Wednesday, July 10th. CIBC lifted their target price on New Gold from $3.00 to $3.40 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Scotiabank increased their price target on New Gold from $2.75 to $3.25 and gave the stock a “sector outperform” rating in a report on Tuesday, September 17th. 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 company’s stock. Based on data from MarketBeat.com, New Gold has an average rating of “Buy” and a consensus target price of $3.08.

About New Gold

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.