National Bank Financial Analysts Reduce Earnings Estimates for New Gold Inc. (NYSEAMERICAN:NGD)

New Gold Inc. (NYSEAMERICAN:NGD) – Stock analysts at National Bank Financial decreased their FY2024 earnings per share estimates for shares of New Gold in a research note issued to investors on Thursday, April 18th. National Bank Financial analyst M. Parkin now expects 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.

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

Several other research analysts have also commented on NGD. StockNews.com lowered New Gold from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Scotiabank lifted their target price on New Gold from $1.65 to $2.00 and gave the stock a “sector perform” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $1.64.

New Gold Trading Up 0.3 %

Shares of NYSEAMERICAN:NGD opened at $1.73 on Monday. The stock has a market cap of $1.19 billion, a P/E ratio of -19.16, a P/E/G ratio of 1.16 and a beta of 1.54. The company has a current ratio of 1.54, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. New Gold has a one year low of $0.86 and a one year high of $1.94.

Institutional Trading of New Gold

Hedge funds and other institutional investors have recently modified their holdings of the company. Heartland Advisors Inc. bought a new stake in shares of New Gold in the 3rd quarter worth $3,185,000. Deutsche Bank AG raised its stake in shares of New Gold by 24.6% in the 3rd quarter. Deutsche Bank AG now owns 2,824,635 shares of the basic materials company’s stock worth $2,570,000 after buying an additional 556,765 shares in the last quarter. Ingalls & Snyder LLC grew its holdings in shares of New Gold by 116.6% in the 4th quarter. Ingalls & Snyder LLC now owns 123,842 shares of the basic materials company’s stock worth $181,000 after acquiring an additional 66,667 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of New Gold by 346.6% in the 4th quarter. Mackenzie Financial Corp now owns 9,635,055 shares of the basic materials company’s stock worth $13,968,000 after acquiring an additional 7,477,711 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of New Gold by 1.0% in the 3rd quarter. American Century Companies Inc. now owns 5,095,417 shares of the basic materials company’s stock worth $4,669,000 after acquiring an additional 48,886 shares during the last quarter. Institutional investors own 42.82% of the company’s stock.

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.