Equities Analysts Set Expectations for New Gold Q3 Earnings

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

A number of other research analysts have also recently issued reports on the stock. Cibc World Mkts raised shares of New Gold to a “strong-buy” rating in a report on Wednesday, July 10th. Canaccord Genuity Group increased their price objective on shares of New Gold from C$4.00 to C$4.50 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. BMO Capital Markets increased their price objective on shares of New Gold from C$4.25 to C$4.50 in a research note on Wednesday, July 31st. Finally, 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. One analyst has rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, New Gold has a consensus rating of “Buy” and a consensus target price of C$3.71.

New Gold Stock Performance

The business has a 50-day moving average of C$3.76 and a two-hundred day moving average of C$3.11. The stock has a market capitalization of C$3.21 billion, a PE ratio of -101.00, a P/E/G ratio of -3.02 and a beta of 1.59. New Gold has a fifty-two week low of C$1.44 and a fifty-two week high of C$4.37. The company has a current ratio of 1.50, a quick ratio of 1.64 and a debt-to-equity ratio of 52.45.

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

Insider Activity at New Gold

In related news, Senior Officer Sean William Keating sold 45,833 shares of the firm’s stock in a transaction 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. 4.92% of the stock is owned by company insiders.

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.