What is Scotiabank’s Forecast for New Gold FY2024 Earnings?

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Investment analysts at Scotiabank lifted their FY2024 earnings per share estimates for shares of New Gold in a report issued on Wednesday, January 8th. Scotiabank analyst E. Winmill now forecasts that the company will post earnings of $0.24 per share for the year, up from their prior estimate of $0.17. Scotiabank also issued estimates for New Gold’s FY2025 earnings at $0.39 EPS.

New Gold Trading Down 3.7 %

Shares of NGD stock opened at C$3.89 on Monday. 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 has a 12-month low of C$1.47 and a 12-month high of C$4.38. The stock has a market cap of C$3.08 billion, a P/E ratio of -97.25, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59. The stock’s 50 day simple moving average is C$3.80.

Insiders Place Their Bets

In other New Gold news, Senior Officer Yohann Bouchard sold 100,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of C$4.25, for a total transaction of C$425,000.00. 4.92% of the stock is currently owned by company insiders.

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.