Scotiabank Has Negative Outlook for New Gold FY2025 Earnings

New Gold Inc. (NYSE:NGD) – Investment analysts at Scotiabank decreased their FY2025 earnings estimates for New Gold in a research note issued to investors on Friday, January 23rd. Scotiabank analyst E. Winmill now expects that the company will post earnings per share of $0.48 for the year, down from their prior estimate of $0.51. Scotiabank has a “Sector Outperform” rating and a $8.00 price target on the stock. The consensus estimate for New Gold’s current full-year earnings is $0.25 per share. Scotiabank also issued estimates for New Gold’s FY2026 earnings at $0.82 EPS.

Several other research firms also recently issued reports on NGD. CIBC boosted their price objective on New Gold from $6.50 to $9.50 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Raymond James Financial reissued a “market perform” rating and issued a $7.00 target price on shares of New Gold in a research report on Friday, October 10th. National Bankshares restated an “outperform” rating on shares of New Gold in a report on Thursday, October 30th. Finally, TD Securities raised shares of New Gold from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, New Gold has an average rating of “Buy” and a consensus target price of $7.38.

New Gold Trading Up 1.8%

Shares of NYSE NGD opened at $12.85 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38. New Gold has a 12 month low of $2.60 and a 12 month high of $13.01. The company has a market cap of $10.17 billion, a price-to-earnings ratio of 98.85 and a beta of 0.62. The business has a fifty day simple moving average of $8.86 and a 200-day simple moving average of $7.03.

Hedge Funds Weigh In On New Gold

Institutional investors and hedge funds have recently modified their holdings of the stock. Steadtrust LLC increased its stake in shares of New Gold by 33.1% in the fourth quarter. Steadtrust LLC now owns 80,500 shares of the company’s stock worth $701,000 after acquiring an additional 20,000 shares during the last quarter. Rathbones Group PLC grew its stake in New Gold by 20.4% in the fourth quarter. Rathbones Group PLC now owns 21,068 shares of the company’s stock valued at $184,000 after purchasing an additional 3,568 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in New Gold in the 4th quarter worth about $430,000. Blue Trust Inc. increased its position in New Gold by 5.2% in the 4th quarter. Blue Trust Inc. now owns 82,234 shares of the company’s stock worth $716,000 after purchasing an additional 4,041 shares during the last quarter. Finally, Ausbil Investment Management Ltd purchased a new stake in shares of New Gold during the 4th quarter worth about $984,000. 42.82% of the stock is currently owned by hedge funds and other institutional investors.

About New Gold

New Gold Inc is a Canadian-based intermediate precious metals producer focused on the exploration, development and operation of gold and copper mining assets. The company was formed in 2008 through the merger of two exploration firms and has since grown into a multi-asset mining platform. Headquartered in Toronto, New Gold emphasizes a disciplined approach to capital allocation and operational execution, with a commitment to environmental stewardship and strong community relations.

New Gold’s principal producing assets include the New Afton Mine in British Columbia and the Rainy River Mine in northwestern Ontario.