National Bank Financial Cuts Earnings Estimates for New Gold

New Gold Inc. (NYSE:NGD) – Equities researchers at National Bank Financial dropped their FY2025 earnings per share (EPS) estimates for New Gold in a research report issued on Wednesday, April 30th. National Bank Financial analyst M. Sidibe now expects that the company will post earnings of $0.40 per share for the year, down from their previous forecast of $0.42. National Bank Financial has a “Strong-Buy” rating on the stock. The consensus estimate for New Gold’s current full-year earnings is $0.25 per share.

A number of other brokerages have also commented on NGD. Scotiabank reissued an “outperform” rating on shares of New Gold in a report on Monday, April 14th. StockNews.com downgraded New Gold from a “buy” rating to a “hold” rating in a research report on Thursday. CIBC cut their price objective on New Gold from $3.60 to $3.40 and set an “outperform” rating for the company in a report on Thursday, February 27th. New Street Research set a $3.90 price objective on New Gold in a report on Wednesday, March 26th. Finally, Raymond James set a $4.00 target price on New Gold and gave the stock a “market perform” rating in a research note on Friday, April 4th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.85.

New Gold Stock Down 0.8 %

NGD stock opened at $3.84 on Monday. New Gold has a 1-year low of $1.74 and a 1-year high of $3.98. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 29.54 and a beta of 0.93. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $3.31 and its 200 day moving average is $2.96.

Institutional Investors Weigh In On New Gold

A number of large investors have recently added to or reduced their stakes in the company. SIH Partners LLLP purchased a new stake in shares of New Gold during the fourth quarter worth about $27,000. Tudor Investment Corp ET AL purchased a new stake in New Gold in the 4th quarter worth approximately $27,000. DGS Capital Management LLC bought a new stake in shares of New Gold in the 4th quarter worth approximately $30,000. Samalin Investment Counsel LLC purchased a new position in shares of New Gold during the fourth quarter valued at approximately $32,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of New Gold during the fourth quarter valued at approximately $39,000. Institutional investors own 42.82% 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.