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New Gold meets 1Q profit forecasts

TORONTO (AP) _ New Gold Inc. (NGD) on Wednesday reported first-quarter earnings of $37.5 million.

On a per-share basis, the Toronto-based company said it had net income of 7 cents. Earnings, adjusted for non-recurring gains, came to 2 cents per share.

The results matched Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 2 cents per share.

The gold mining company posted revenue of $169.5 million in the period.

In the final minutes of trading on Wednesday, the company's shares hit $3.10. A year ago, they were trading at $4.48.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NGD at https://www.zacks.com/ap/NGD

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Keywords: New Gold, Earnings Report