New Gold (NYSE:NGD) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

New Gold (NYSE:NGD) posted its earnings results on Tuesday. The company reported $0.08 earnings per share (EPS) 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 net margin of 2.33% and a return on equity of 8.56%.

New Gold Stock Up 2.9 %

NGD traded up $0.08 during mid-day trading on Friday, reaching $2.83. 5,886,886 shares of the company traded hands, compared to its average volume of 8,130,455. The firm has a market cap of $2.24 billion, a PE ratio of 136.75 and a beta of 1.30. 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’s fifty day moving average is $2.81. New Gold has a 52-week low of $1.09 and a 52-week high of $3.25.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NGD shares. Scotiabank increased their price objective on shares of New Gold from $2.75 to $3.25 and gave the company a “sector outperform” rating in a report on Tuesday, September 17th. StockNews.com upgraded shares of 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 report on Wednesday, July 10th. Royal Bank of Canada boosted their price objective on New Gold from $3.00 to $3.50 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, CIBC raised their price target on shares of New Gold from $3.00 to $3.40 and gave the stock an “outperformer” rating in a research report on Wednesday, July 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. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $3.08.

New Gold Company Profile

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.