New Gold FY2024 EPS Increased by National Bank Financial

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Investment analysts at National Bank Financial increased their FY2024 EPS estimates for shares of New Gold in a research note issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now expects that the company will post earnings of $0.25 per share for the year, up from their prior forecast of $0.24. National Bank Financial also issued estimates for New Gold’s FY2025 earnings at $0.52 EPS.

New Gold (TSE:NGD) (ARCA:NGD) last posted 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 return on equity of 2.23% and a negative net margin of 2.53%. The firm had revenue of C$298.55 million for the quarter.

A number of other analysts have also recently issued reports on the stock. National Bankshares increased 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 research note on Thursday, August 1st. Canaccord Genuity Group upped their target price on shares of New Gold from C$4.00 to C$4.50 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Cibc World Mkts raised shares of New Gold to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, BMO Capital Markets upped 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$3.71.

New Gold Trading Down 1.2 %

New Gold stock opened at C$4.01 on Friday. New Gold has a 12-month low of C$1.44 and a 12-month high of C$4.37. The firm has a market capitalization of C$3.17 billion, a price-to-earnings ratio of -100.25, a P/E/G ratio of -3.02 and a beta of 1.59. The firm has a 50 day moving average of C$3.77 and a 200 day moving average of C$3.12. The company has a current ratio of 1.50, a quick ratio of 1.64 and a debt-to-equity ratio of 52.45.

Insider Buying and Selling at New Gold

In other New Gold news, Senior Officer Sean William Keating sold 45,833 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of C$4.17, for a total transaction of C$191,123.61. 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.