National Bank Financial Predicts New Gold Q4 Earnings

New Gold Inc. (NYSE:NGD) – National Bank Financial issued their Q4 2024 earnings per share (EPS) estimates for shares of New Gold in a research note issued to investors on Monday, February 10th. National Bank Financial analyst M. Parkin forecasts that the company will post earnings per share of $0.06 for the quarter. The consensus estimate for New Gold’s current full-year earnings is $0.19 per share.

Separately, StockNews.com raised New Gold from a “hold” rating to a “buy” rating in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $3.41.

New Gold Trading Down 0.3 %

New Gold stock opened at $3.00 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.42. The business’s 50-day simple moving average is $2.76 and its 200-day simple moving average is $2.71. The firm has a market capitalization of $2.37 billion, a PE ratio of 150.00 and a beta of 1.36. New Gold has a 52 week low of $1.09 and a 52 week high of $3.25.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NGD. BNP Paribas Financial Markets grew its holdings in New Gold by 9,360.7% during the third quarter. BNP Paribas Financial Markets now owns 2,692,614 shares of the company’s stock valued at $7,755,000 after purchasing an additional 2,664,153 shares during the period. XTX Topco Ltd boosted its stake in shares of New Gold by 294.7% in the third quarter. XTX Topco Ltd now owns 488,959 shares of the company’s stock worth $1,408,000 after acquiring an additional 365,079 shares during the period. Van ECK Associates Corp lifted its position 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 worth $215,743,000 after buying an additional 3,541,882 shares in the last quarter. Old West Investment Management LLC lifted its position 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 buying an additional 300,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of New Gold by 684.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,466,500 shares of the company’s stock worth $4,255,000 after buying an additional 1,279,500 shares in the last quarter. Hedge funds and other institutional investors 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.