Equities Analysts Offer Predictions for New Gold Inc.’s FY2024 Earnings (TSE:NGD)

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Stock analysts at National Bank Financial upped their FY2024 earnings per share (EPS) estimates for New Gold in a research report issued on Wednesday, May 1st. National Bank Financial analyst M. Parkin now forecasts that the company will earn $0.23 per share for the year, up from their previous forecast of $0.10. National Bank Financial has a “Sector Perform Spec Overwgt” rating on the stock. The consensus estimate for New Gold’s current full-year earnings is $0.18 per share. National Bank Financial also issued estimates for New Gold’s FY2025 earnings at $0.32 EPS.

A number of other analysts also recently weighed in on the company. Bank of America increased their price objective on New Gold from C$1.90 to C$2.30 in a report on Tuesday, April 9th. National Bankshares dropped their price target on New Gold from C$2.25 to C$2.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 20th. Finally, Canaccord Genuity Group raised their price objective on shares of New Gold from C$2.75 to C$3.00 in a research report on Tuesday, April 23rd.

New Gold Stock Performance

TSE:NGD opened at C$2.55 on Monday. The stock’s 50-day moving average is C$2.27 and its 200-day moving average is C$1.94. New Gold has a 1-year low of C$1.17 and a 1-year high of C$2.68. The company has a current ratio of 1.51, a quick ratio of 1.64 and a debt-to-equity ratio of 54.32. The stock has a market cap of C$1.76 billion, a P/E ratio of -18.21, a price-to-earnings-growth ratio of -3.02 and a beta of 1.61.

New Gold (TSE:NGD) (ARCA:NGD) last issued its earnings results on Tuesday, February 13th. The company reported C($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.03 by C($0.04). New Gold had a negative return on equity of 9.44% and a negative net margin of 9.81%. The firm had revenue of C$271.22 million during the quarter.

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.