National Bank Financial Estimates New Gold FY2024 Earnings

New Gold Inc. (TSE:NGDFree Report) (ARCA:NGD) – Research analysts at National Bank Financial boosted their FY2024 earnings estimates for shares of New Gold in a report released on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now anticipates that the company will post earnings of $0.25 per share for the year, up from their prior estimate of $0.24. National Bank Financial also issued estimates for New Gold’s FY2025 earnings at $0.52 EPS.

New Gold (TSE:NGDGet Free Report) (ARCA:NGD) last issued its quarterly earnings data on Tuesday, July 30th. The company reported C$0.03 earnings per share (EPS) for the quarter, beating 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 net margin of 2.53% and a negative return on equity of 2.23%.

A number of other analysts also recently weighed in on NGD. BMO Capital Markets upped their target price on shares of New Gold from C$4.25 to C$4.50 in a research report on Wednesday, July 31st. Canaccord Genuity Group upped their target price on shares of New Gold from C$4.00 to C$4.50 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. 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 report on Thursday, August 1st. Finally, Cibc World Mkts raised shares of New Gold to a “strong-buy” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$3.71.

Read Our Latest Stock Report on New Gold

New Gold Stock Down 1.2 %

Shares of New Gold stock opened at C$4.01 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.64 and a debt-to-equity ratio of 52.45. The company’s fifty day simple moving average is C$3.77 and its two-hundred day simple moving average is C$3.12. The company has a market cap of C$3.17 billion, a P/E ratio of -100.25, a PEG ratio of -3.02 and a beta of 1.59. New Gold has a 12-month low of C$1.44 and a 12-month high of C$4.37.

Insider Activity at New Gold

In related news, Senior Officer Sean William Keating sold 45,833 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of C$4.17, for a total transaction of C$191,123.61. 4.92% of the stock is currently owned by insiders.

New Gold Company Profile

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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.

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Earnings History and Estimates for New Gold (TSE:NGD)

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