New Gold Inc. (NYSEAMERICAN:NGD) to Post FY2024 Earnings of $0.07 Per Share, National Bank Financial Forecasts

New Gold Inc. (NYSEAMERICAN:NGD) – Equities researchers at National Bank Financial reduced their FY2024 EPS estimates for shares of New Gold in a research report issued on Thursday, April 18th. National Bank Financial analyst M. Parkin now anticipates that the basic materials company will post earnings per share of $0.07 for the year, down from their prior forecast of $0.09. 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 $0.04 per share. National Bank Financial also issued estimates for New Gold’s FY2025 earnings at $0.15 EPS.

NGD has been the subject of a number of other reports. StockNews.com cut shares of New Gold from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Scotiabank lifted their price objective on shares of New Gold from $1.65 to $2.00 and gave the company a “sector perform” rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $1.64.

New Gold Stock Down 1.7 %

NGD stock opened at $1.72 on Monday. New Gold has a 12 month low of $0.86 and a 12 month high of $1.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.54 and a quick ratio of 0.98. The stock has a market cap of $1.19 billion, a P/E ratio of -19.11, a PEG ratio of 1.16 and a beta of 1.54.

New Gold (NYSEAMERICAN:NGD) last issued its quarterly earnings data on Tuesday, February 13th. The basic materials company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). New Gold had a positive return on equity of 5.63% and a negative net margin of 8.20%. The business had revenue of $199.20 million during the quarter.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NGD. First Citizens Bank & Trust Co. purchased a new stake in New Gold during the 3rd quarter worth approximately $61,000. Independent Family Office LLC purchased a new stake in New Gold during the 4th quarter worth approximately $123,000. Baader Bank Aktiengesellschaft grew its position in New Gold by 812.7% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 91,267 shares of the basic materials company’s stock worth $132,000 after purchasing an additional 81,267 shares during the last quarter. Ingalls & Snyder LLC grew its position in New Gold by 116.6% during the 4th quarter. Ingalls & Snyder LLC now owns 123,842 shares of the basic materials company’s stock worth $181,000 after purchasing an additional 66,667 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in New Gold during the 4th quarter worth approximately $206,000. Institutional investors own 42.82% 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.