National Bank Financial Comments on New Gold Q3 Earnings

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Research analysts at National Bank Financial issued their Q3 2024 earnings per share (EPS) estimates for New Gold in a research report issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin forecasts that the company will post earnings per share of $0.06 for the quarter.

Several other brokerages have also commented on NGD. National Bankshares raised their price objective on shares of New Gold from C$4.00 to C$4.25 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Cibc World Mkts upgraded shares of New Gold to a “strong-buy” rating in a report on Wednesday, July 10th. Canaccord Genuity Group lifted their target price on shares of New Gold from C$4.00 to C$4.50 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, BMO Capital Markets lifted their target price on shares of New Gold from C$4.25 to C$4.50 in a report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, New Gold presently has a consensus rating of “Buy” and an average target price of C$3.71.

New Gold Stock Performance

Shares of NGD opened at C$4.01 on Thursday. 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 one year low of C$1.44 and a one year high of C$4.37. The company has a 50-day simple moving average of C$3.77 and a two-hundred day simple moving average of C$3.12. The firm has a market capitalization of C$3.17 billion, a PE ratio of -100.25, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59.

New Gold (TSE:NGD) (ARCA:NGD) last issued its quarterly earnings data on Tuesday, July 30th. The company reported C$0.03 EPS for the quarter, topping the consensus estimate of C$0.02 by C$0.01. New Gold had a negative net margin of 2.53% and a negative return on equity of 2.23%. The business had revenue of C$298.55 million during the quarter.

Insider Activity

In related news, Senior Officer Sean William Keating sold 45,833 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of C$4.17, for a total transaction of C$191,123.61. Company 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.