Raymond James Estimates New Gold’s FY2024 Earnings (TSE:NGD)

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Raymond James upped their FY2024 earnings per share (EPS) estimates for shares of New Gold in a report released on Monday, February 3rd. Raymond James analyst F. Hamed now anticipates that the company will post earnings per share of $0.26 for the year, up from their previous forecast of $0.24. Raymond James also issued estimates for New Gold’s FY2025 earnings at $0.28 EPS.

New Gold Price Performance

NGD stock opened at C$4.43 on Wednesday. The firm has a 50 day moving average of C$3.92 and a 200-day moving average of C$3.72. The firm has a market capitalization of C$3.50 billion, a P/E ratio of -110.75, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59. New Gold has a 12 month low of C$1.47 and a 12 month high of C$4.54. The company has a current ratio of 1.50, a quick ratio of 1.64 and a debt-to-equity ratio of 52.45.

Insiders Place Their Bets

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

About New Gold

New Gold Inc is an intermediate gold mining company. The company has a portfolio of two producing assets: Rainy River Mine and New Afton Mine in Canada. Also, it has interests in the Cerro San Pedro Mine in Mexico. The company derives revenue from the sale of Gold, Copper, and Silver.