FY2025 EPS Estimates for New Gold Decreased by Raymond James

New Gold Inc. (NYSE:NGD) – Investment analysts at Raymond James decreased their FY2025 earnings estimates for New Gold in a research note issued to investors on Monday, October 21st. Raymond James analyst F. Hamed now expects that the company will post earnings per share of $0.24 for the year, down from their prior estimate of $0.25. The consensus estimate for New Gold’s current full-year earnings is $0.15 per share.

Several other equities analysts have also recently weighed in on the stock. CIBC lifted their price objective on shares of New Gold from $3.00 to $3.40 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Cibc World Mkts raised New Gold to a “strong-buy” rating in a research note on Wednesday, July 10th. StockNews.com downgraded New Gold from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Royal Bank of Canada raised their price target on shares of New Gold from $3.00 to $3.50 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Finally, Scotiabank upped their price objective on shares of New Gold from $2.75 to $3.25 and gave the company a “sector outperform” rating in a research note on Tuesday, September 17th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2.74.

New Gold Price Performance

New Gold stock opened at $2.93 on Thursday. New Gold has a fifty-two week low of $1.03 and a fifty-two week high of $3.25. The stock has a 50 day moving average price of $2.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.50. The stock has a market capitalization of $2.32 billion, a P/E ratio of -29.30 and a beta of 1.30.

New Gold (NYSE:NGD) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $218.20 million during the quarter. New Gold had a positive return on equity of 5.22% and a negative net margin of 2.53%.

Institutional Trading of New Gold

Several large investors have recently added to or reduced their stakes in the business. Scientech Research LLC bought a new stake in shares of New Gold during the 2nd quarter worth about $28,000. Coppell Advisory Solutions Corp. bought a new position in shares of New Gold in the first quarter worth about $30,000. Allworth Financial LP lifted its holdings in shares of New Gold by 941.8% during the third quarter. Allworth Financial LP now owns 10,418 shares of the company’s stock worth $30,000 after buying an additional 9,418 shares during the last quarter. Eastern Bank acquired a new stake in New Gold in the 3rd quarter worth $33,000. Finally, Rathbones Group PLC bought a new position in New Gold during the second quarter valued at about $36,000. 42.82% of the stock is owned by institutional investors.

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.