New Gold (NGD) Set to Announce Quarterly Earnings on Tuesday

New Gold (TSE:NGD) (ARCA:NGD) is set to announce its earnings results 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 issued its quarterly earnings data on Tuesday, July 30th. The company reported C$0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.02 by C$0.01. The firm had revenue of C$298.55 million for the quarter. New Gold had a negative net margin of 2.53% and a negative return on equity of 2.23%.

New Gold Trading Down 1.9 %

TSE NGD opened at C$4.11 on Tuesday. New Gold has a 52 week low of C$1.42 and a 52 week high of C$4.37. The company has a 50 day moving average price of C$3.72 and a 200 day moving average price of C$3.09. The company has a quick ratio of 1.64, a current ratio of 1.50 and a debt-to-equity ratio of 52.45. The firm has a market cap of C$3.25 billion, a PE ratio of -102.75, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59.

Insider Activity

In related news, Senior Officer Sean William Keating sold 45,833 shares of New Gold stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of C$4.17, for a total transaction of C$191,123.61. Corporate insiders own 4.92% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.