New Gold (NGD) to Release Earnings on Tuesday

New Gold (TSE:NGD) (ARCA:NGD) will be issuing its quarterly earnings data after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of C$0.04 per share for the quarter.

New Gold (TSE:NGD) (ARCA:NGD) last announced its quarterly earnings data on Tuesday, July 30th. The company reported C$0.03 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.02 by C$0.01. New Gold had a negative net margin of 2.53% and a negative return on equity of 2.23%. The business had revenue of C$298.55 million during the quarter.

New Gold Price Performance

Shares of TSE:NGD opened at C$4.01 on Monday. The company has a quick ratio of 1.64, a current ratio of 1.50 and a debt-to-equity ratio of 52.45. New Gold has a fifty-two week low of C$1.44 and a fifty-two week high of C$4.37. The firm has a 50-day simple moving average of C$3.77 and a 200 day simple moving average of C$3.12. The company has a market cap of C$3.17 billion, a PE ratio of -100.25, a P/E/G ratio of -3.02 and a beta of 1.59.

Analysts Set New Price Targets

Several research analysts have commented on the stock. BMO Capital Markets upped their target price on shares of New Gold from C$4.25 to C$4.50 in a research report on Wednesday, July 31st. Canaccord Genuity Group upped their target price on shares of New Gold from C$4.00 to C$4.50 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Cibc World Mkts upgraded shares of New Gold to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, National Bankshares upped their target price on shares of New Gold from C$4.00 to C$4.25 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$3.71.

Insider Transactions at New Gold

In other news, Senior Officer Sean William Keating sold 45,833 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of C$4.17, for a total value of C$191,123.61. Company insiders own 4.92% of the company’s stock.

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.