Scotiabank Has Negative Outlook for New Gold FY2025 Earnings

New Gold Inc. (NYSE:NGD) – Analysts at Scotiabank lowered their FY2025 earnings per share estimates for New Gold in a research report issued to clients and investors on Friday, January 23rd. Scotiabank analyst E. Winmill now expects that the company will earn $0.48 per share for the year, down from their prior estimate of $0.51. Scotiabank currently has a “Outperform” rating and a $12.75 target price on the stock. The consensus estimate for New Gold’s current full-year earnings is $0.25 per share. Scotiabank also issued estimates for New Gold’s FY2026 earnings at $0.82 EPS.

A number of other research firms also recently commented on NGD. Raymond James Financial reissued a “market perform” rating and set a $7.00 target price on shares of New Gold in a research report on Friday, October 10th. TD Securities upgraded New Gold from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Monday, December 1st. National Bankshares reissued an “outperform” rating on shares of New Gold in a research report on Thursday, October 30th. Finally, CIBC boosted their price objective on shares of New Gold from $6.50 to $9.50 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $8.18.

New Gold Stock Up 0.6%

Shares of NYSE:NGD opened at $12.58 on Monday. The business’s 50 day moving average is $9.08 and its 200 day moving average is $7.14. The stock has a market cap of $9.96 billion, a P/E ratio of 96.78 and a beta of 0.62. New Gold has a 52-week low of $2.60 and a 52-week high of $13.63. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38.

Institutional Trading of New Gold

A number of hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in New Gold by 50.7% during the 3rd quarter. Van ECK Associates Corp now owns 72,796,146 shares of the company’s stock valued at $522,678,000 after acquiring an additional 24,495,669 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of New Gold by 89.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 28,812,369 shares of the company’s stock valued at $143,011,000 after purchasing an additional 13,591,642 shares during the last quarter. American Century Companies Inc. increased its stake in shares of New Gold by 8.2% during the 3rd quarter. American Century Companies Inc. now owns 16,883,444 shares of the company’s stock worth $120,985,000 after purchasing an additional 1,272,621 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of New Gold by 16.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,357,047 shares of the company’s stock worth $95,904,000 after purchasing an additional 1,891,468 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in New Gold by 1,531.2% in the 3rd quarter. Vanguard Group Inc. now owns 11,468,982 shares of the company’s stock valued at $82,164,000 after buying an additional 10,765,902 shares in the last quarter. 42.82% of the stock is owned by hedge funds and other institutional investors.

New Gold Company Profile

New Gold Inc is a Canadian-based intermediate precious metals producer focused on the exploration, development and operation of gold and copper mining assets. The company was formed in 2008 through the merger of two exploration firms and has since grown into a multi-asset mining platform. Headquartered in Toronto, New Gold emphasizes a disciplined approach to capital allocation and operational execution, with a commitment to environmental stewardship and strong community relations.

New Gold’s principal producing assets include the New Afton Mine in British Columbia and the Rainy River Mine in northwestern Ontario.