Brokers Set Expectations for New Gold Inc.’s FY2022 Earnings (TSE:NGD)

New Gold Inc. (TSE:NGDGet Rating) (ARCA:NGD) – Stock analysts at Cormark decreased their FY2022 earnings per share (EPS) estimates for New Gold in a note issued to investors on Tuesday, May 3rd. Cormark analyst R. Gray now forecasts that the company will post earnings per share of $0.22 for the year, down from their previous forecast of $0.23.

New Gold (TSE:NGDGet Rating) (ARCA:NGD) last released its earnings results on Wednesday, February 23rd. The company reported C$0.05 earnings per share for the quarter, hitting the consensus estimate of C$0.05. The company had revenue of C$255.43 million for the quarter.

Other research analysts have also recently issued reports about the company. Canaccord Genuity Group upgraded New Gold from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$2.25 to C$3.00 in a research note on Friday, April 22nd. BMO Capital Markets decreased their price objective on shares of New Gold from C$3.50 to C$3.25 in a research note on Thursday, February 24th. Finally, National Bankshares cut their price objective on shares of New Gold from C$2.75 to C$2.50 in a research note on Wednesday, April 20th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, New Gold has a consensus rating of “Hold” and a consensus target price of C$2.49.

TSE NGD opened at C$1.84 on Wednesday. The company has a market cap of C$1.25 billion and a price-to-earnings ratio of 7.00. The company has a debt-to-equity ratio of 53.49, a current ratio of 3.97 and a quick ratio of 3.30. The stock’s fifty day moving average price is C$2.21 and its 200 day moving average price is C$2.05. New Gold has a 1 year low of C$1.29 and a 1 year high of C$2.68.

About New Gold (Get Rating)

New Gold Inc, an intermediate gold mining company, engages in the exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interests in the Rainy River mine located in Ontario, Canada; and New Afton mine situated in British Columbia, Canada.

See Also

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

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