New Gold Inc. Forecasted to Post FY2024 Earnings of $0.10 Per Share (TSE:NGD)

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Research analysts at National Bank Financial lowered their FY2024 earnings per share (EPS) estimates for New Gold in a note issued to investors on Thursday, April 18th. National Bank Financial analyst M. Parkin now anticipates that the company will post earnings of $0.10 per share for the year, down from their previous forecast of $0.12. National Bank Financial currently has a “Sector Perform Spec Overwgt” rating on the stock. The consensus estimate for New Gold’s current full-year earnings is $0.14 per share. National Bank Financial also issued estimates for New Gold’s FY2025 earnings at $0.21 EPS.

Several other research analysts have also recently weighed in on NGD. National Bankshares decreased their price target on New Gold from C$2.25 to C$2.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 20th. Bank of America boosted their price target on New Gold from C$1.90 to C$2.30 in a research note on Tuesday, April 9th.

New Gold Stock Down 3.3 %

NGD stock opened at C$2.33 on Monday. New Gold has a 1-year low of C$1.17 and a 1-year high of C$2.67. The business has a fifty day moving average price of C$2.08 and a 200-day moving average price of C$1.86. The company has a debt-to-equity ratio of 50.84, a current ratio of 1.54 and a quick ratio of 1.64. The stock has a market capitalization of C$1.60 billion, a P/E ratio of -19.42, a P/E/G ratio of -3.02 and a beta of 1.52.

New Gold (TSE:NGD) (ARCA:NGD) last posted its quarterly earnings results on Tuesday, February 13th. The company reported C($0.01) earnings per share for the quarter, missing the consensus estimate of C$0.03 by C($0.04). New Gold had a negative return on equity of 7.38% and a negative net margin of 8.20%. The business had revenue of C$271.22 million during the quarter.

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.