New Gold FY2024 EPS Lifted by National Bank Financial

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Investment analysts at National Bank Financial raised their FY2024 earnings per share (EPS) estimates for New Gold in a research note issued to investors on Wednesday, October 30th. National Bank Financial analyst M. Parkin now forecasts that the company will post earnings of $0.29 per share for the year, up from their previous forecast of $0.25. National Bank Financial also issued estimates for New Gold’s FY2025 earnings at $0.57 EPS.

A number of other brokerages also recently commented on NGD. 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 note on Thursday, August 1st. BMO Capital Markets increased their price objective on New Gold from C$4.25 to C$4.50 in a research note on Wednesday, July 31st. Cibc World Mkts upgraded New Gold to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, Canaccord Genuity Group raised their price target on New Gold from C$4.00 to C$4.50 and gave the company a “buy” rating in a research note 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 stock currently has a consensus rating of “Buy” and a consensus target price of C$3.71.

New Gold Trading Down 3.5 %

TSE NGD opened at C$3.83 on Friday. New Gold has a 12 month low of C$1.47 and a 12 month high of C$4.37. The company’s 50-day moving average price is C$3.81 and its 200-day moving average price is C$3.16. The stock has a market cap of C$3.03 billion, a PE ratio of -95.75, a PEG ratio of -3.02 and a beta of 1.59. The company has a current ratio of 1.50, a quick ratio of 1.64 and a debt-to-equity ratio of 52.45.

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

Insider Transactions at New Gold

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

New Gold Company Profile

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.