Research Analysts Offer Predictions for New Gold Q4 Earnings

New Gold Inc. (NYSE:NGD) – Analysts at Raymond James lifted their Q4 2024 EPS estimates for New Gold in a research report issued on Monday, February 3rd. Raymond James analyst F. Hamed now anticipates that the company will post earnings of $0.06 per share for the quarter, up from their prior estimate of $0.05. The consensus estimate for New Gold’s current full-year earnings is $0.18 per share. Raymond James also issued estimates for New Gold’s Q1 2025 earnings at $0.03 EPS, Q2 2025 earnings at $0.05 EPS, Q3 2025 earnings at $0.05 EPS and Q4 2025 earnings at $0.05 EPS.

Separately, StockNews.com upgraded shares of New Gold from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $3.41.

New Gold Trading Down 3.9 %

Shares of NYSE:NGD opened at $2.99 on Thursday. The company’s 50-day moving average price is $2.75 and its two-hundred day moving average price is $2.68. New Gold has a one year low of $1.09 and a one year high of $3.25. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.84. The stock has a market capitalization of $2.36 billion, a PE ratio of 149.50 and a beta of 1.36.

Institutional Investors Weigh In On New Gold

Several hedge funds have recently modified their holdings of NGD. BNP Paribas Financial Markets grew its stake in shares of New Gold by 9,360.7% in the third quarter. BNP Paribas Financial Markets now owns 2,692,614 shares of the company’s stock worth $7,755,000 after purchasing an additional 2,664,153 shares during the last quarter. XTX Topco Ltd grew its position in shares of New Gold by 294.7% in the 3rd quarter. XTX Topco Ltd now owns 488,959 shares of the company’s stock valued at $1,408,000 after buying an additional 365,079 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of New Gold by 5.0% in the third quarter. Van ECK Associates Corp now owns 73,884,631 shares of the company’s stock valued at $215,743,000 after buying an additional 3,541,882 shares during the period. Dimensional Fund Advisors LP raised its position in shares of New Gold by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,394,885 shares of the company’s stock worth $4,670,000 after acquiring an additional 200,799 shares during the last quarter. Finally, Old West Investment Management LLC lifted its stake in shares of New Gold by 42.9% in the third quarter. Old West Investment Management LLC now owns 1,000,000 shares of the company’s stock worth $2,880,000 after acquiring an additional 300,000 shares during the period. Institutional investors and hedge funds own 42.82% 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.