New Gold FY2024 EPS Boosted by National Bank Financial

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Equities researchers at National Bank Financial boosted their FY2024 earnings estimates for shares of New Gold in a report issued on Wednesday, October 30th. National Bank Financial analyst M. Parkin now forecasts that the company will earn $0.29 per share for the year, up from their prior forecast of $0.25. National Bank Financial also issued estimates for New Gold’s FY2025 earnings at $0.57 EPS.

A number of other equities research analysts also recently commented on the stock. Canaccord Genuity Group increased their price objective on shares of New Gold from C$4.00 to C$4.50 and gave the company a “buy” rating in a research report on Thursday, August 22nd. National Bankshares increased their price objective on shares of New Gold from C$4.00 to C$4.25 and gave the company an “outperform” rating in a research report on Thursday, August 1st. BMO Capital Markets increased their price objective on shares of New Gold from C$4.25 to C$4.50 in a research report on Wednesday, July 31st. Finally, Cibc World Mkts raised shares of New Gold to a “strong-buy” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, New Gold has an average rating of “Buy” and an average price target of C$3.71.

New Gold Price Performance

New Gold stock opened at C$3.86 on Friday. New Gold has a 52-week low of C$1.47 and a 52-week high of C$4.37. The company’s 50 day moving average is C$3.82 and its two-hundred day moving average is C$3.16. The company has a quick ratio of 1.64, a current ratio of 1.50 and a debt-to-equity ratio of 52.45. The firm has a market cap of C$3.05 billion, a PE ratio of -96.50, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59.

New Gold (TSE:NGD) (ARCA:NGD) last released its 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 company had revenue of C$298.55 million for 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 stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of C$4.17, for a total value of C$191,123.61. Insiders own 4.92% of the company’s stock.

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.