What is Scotiabank’s Forecast for New Gold FY2024 Earnings?

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Equities researchers at Scotiabank upped their FY2024 EPS estimates for shares of New Gold in a note issued to investors on Wednesday, January 8th. Scotiabank analyst E. Winmill now expects that the company will post earnings per share of $0.24 for the year, up from their prior forecast of $0.17. Scotiabank also issued estimates for New Gold’s FY2025 earnings at $0.39 EPS.

New Gold Stock Down 2.8 %

TSE:NGD opened at C$3.78 on Monday. The company has a debt-to-equity ratio of 52.45, a current ratio of 1.50 and a quick ratio of 1.64. New Gold has a 52 week low of C$1.47 and a 52 week high of C$4.38. The company’s 50-day simple moving average is C$3.80. The firm has a market cap of C$2.99 billion, a PE ratio of -94.50, a PEG ratio of -3.02 and a beta of 1.59.

Insider Activity

In other news, Senior Officer Yohann Bouchard sold 100,000 shares of New Gold stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of C$4.25, for a total value of C$425,000.00. Insiders own 4.92% of the company’s stock.

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.