New Gold Inc. Forecasted to Post FY2024 Earnings of $0.23 Per Share (TSE:NGD)

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Investment analysts at National Bank Financial raised their FY2024 earnings estimates for New Gold in a research report issued to clients and investors on Wednesday, May 1st. National Bank Financial analyst M. Parkin now expects that the company will earn $0.23 per share for the year, up from their prior estimate of $0.10. National Bank Financial currently has a “Sector Perform Spec Overwgt” rating on the stock. The consensus estimate for New Gold’s current full-year earnings is $0.18 per share. National Bank Financial also issued estimates for New Gold’s FY2025 earnings at $0.32 EPS.

New Gold (TSE:NGD) (ARCA:NGD) last released its quarterly earnings data on Tuesday, February 13th. The company reported C($0.01) earnings per share for the quarter, missing the consensus estimate of C$0.03 by C($0.04). New Gold had a negative return on equity of 9.44% and a negative net margin of 9.81%. The business had revenue of C$271.22 million for the quarter.

A number of other research analysts also recently commented on NGD. Bank of America upped their price objective on New Gold from C$1.90 to C$2.30 in a research note on Tuesday, April 9th. Canaccord Genuity Group increased their price objective on shares of New Gold from C$2.75 to C$3.00 in a report on Tuesday, April 23rd. Finally, National Bankshares cut their price objective on shares of New Gold from C$2.25 to C$2.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 20th.

New Gold Stock Up 0.8 %

Shares of New Gold stock opened at C$2.57 on Monday. The stock has a market capitalization of C$1.77 billion, a price-to-earnings ratio of -18.36, a PEG ratio of -3.02 and a beta of 1.61. New Gold has a twelve month low of C$1.17 and a twelve month high of C$2.68. The company has a current ratio of 1.51, a quick ratio of 1.64 and a debt-to-equity ratio of 54.32. The business’s 50 day simple moving average is C$2.29 and its 200-day simple moving average is C$1.94.

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.