Raymond James Weighs in on New Gold Inc.’s Q2 2024 Earnings (TSE:NGD)

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Investment analysts at Raymond James lifted their Q2 2024 earnings per share (EPS) estimates for New Gold in a research note issued on Tuesday, April 23rd. Raymond James analyst F. Hamed now forecasts that the company will post earnings per share of $0.03 for the quarter, up from their prior forecast of ($0.01). The consensus estimate for New Gold’s current full-year earnings is $0.14 per share. Raymond James also issued estimates for New Gold’s Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.08 EPS and FY2024 earnings at $0.14 EPS.

New Gold (TSE:NGD) (ARCA:NGD) last posted its quarterly earnings data on Tuesday, February 13th. The company reported C($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.03 by C($0.04). New Gold had a negative return on equity of 7.38% and a negative net margin of 8.20%. The firm had revenue of C$271.22 million during the quarter.

Other analysts have also issued reports about the stock. Canaccord Genuity Group upped their price target on shares of New Gold from C$2.75 to C$3.00 in a report on Tuesday. Bank of America upped their target price on shares of New Gold from C$1.90 to C$2.30 in a research note on Tuesday, April 9th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of New Gold in a research note on Monday, April 8th. Finally, National Bankshares dropped their price objective on New Gold from C$2.25 to C$2.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 20th.

New Gold Trading Up 0.4 %

NGD opened at C$2.49 on Friday. The company has a debt-to-equity ratio of 50.84, a quick ratio of 1.64 and a current ratio of 1.54. The stock’s 50 day moving average price is C$2.13 and its 200-day moving average price is C$1.88. New Gold has a one year low of C$1.17 and a one year high of C$2.67. The stock has a market cap of C$1.71 billion, a price-to-earnings ratio of -20.75, a P/E/G ratio of -3.02 and a beta of 1.52.

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.