New Gold Inc. to Post FY2022 Earnings of $0.15 Per Share, National Bank Financial Forecasts (TSE:NGD)

New Gold Inc. (TSE:NGD – Get Rating) (ARCA:NGD) – Investment analysts at National Bank Financial lifted their FY2022 earnings estimates for shares of New Gold in a research note issued on Monday, May 2nd. National Bank Financial analyst M. Parkin now forecasts that the company will earn $0.15 per share for the year, up from their previous estimate of $0.13. National Bank Financial also issued estimates for New Gold’s FY2023 earnings at $0.17 EPS.

Several other analysts also recently weighed in on NGD. National Bankshares decreased their price target on shares of New Gold from C$2.75 to C$2.50 in a research note on Wednesday, April 20th. BMO Capital Markets decreased their price objective on shares of New Gold from C$3.50 to C$3.25 in a research report on Thursday, February 24th. Finally, Canaccord Genuity Group upgraded shares of New Gold from a “hold” rating to a “buy” rating and upped their price target for the stock from C$2.25 to C$3.00 in a research report on Friday, April 22nd. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, New Gold presently has a consensus rating of “Hold” and a consensus price target of C$2.49.

NGD opened at C$1.89 on Thursday. The firm has a market cap of C$1.29 billion and a P/E ratio of 7.19. New Gold has a 12 month low of C$1.29 and a 12 month high of C$2.68. The company has a current ratio of 3.97, a quick ratio of 3.30 and a debt-to-equity ratio of 53.49. The stock has a 50-day moving average of C$2.20 and a 200 day moving average of C$2.06.

New Gold (TSE:NGD – Get Rating) (ARCA:NGD) last issued its earnings results on Wednesday, February 23rd. The company reported C$0.05 EPS for the quarter, meeting the consensus estimate of C$0.05. The business had revenue of C$255.43 million for the quarter.

About New Gold (Get Rating)

New Gold Inc, an intermediate gold mining company, engages in the exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interests in the Rainy River mine located in Ontario, Canada; and New Afton mine situated in British Columbia, Canada.

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