New Gold's Q3 Adjusted Net Earnings Up Year over Year, Beats Street Estimates
07:15 AM EST, 11/12/2021 (MT Newswires) -- New Gold Inc. (NGD.TO) on Friday reported third-quarter adjusted net earnings of US$23.4 million, or US$0.03 per share, rising from prior-year adjusted net earnings of US$12.4 million, or US$0.02 per share and beating the S&P Capital IQ normalized EPS estimate of US$0.02.
The company, which lost 1.9% at last look in US pre-market trading, said revenue increased to US$179.8 million from US$173.7 million due to higher gold and copper prices.
New Gold produced 105,628 ounces of gold equivalent in the third quarter, down from 115,536 ounces of gold equivalent last year. The company said it remains on track to hit its updated 2021 production guidance of 405,000 to 450,000 ounces of gold equivalent.