New Gold FY2024 EPS Boosted by National Bank Financial

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Equities research analysts at National Bank Financial upped their FY2024 EPS estimates for New Gold in a research report issued on Wednesday, October 30th. National Bank Financial analyst M. Parkin now expects that the company will post earnings per share of $0.29 for the year, up from their previous forecast of $0.25. National Bank Financial also issued estimates for New Gold’s FY2025 earnings at $0.57 EPS.

Several other equities analysts also recently weighed in on the stock. Canaccord Genuity Group raised their target price on shares of New Gold from C$4.00 to C$4.50 and gave the company a “buy” rating in a report on Thursday, August 22nd. National Bankshares raised their target price on shares of New Gold from C$4.00 to C$4.25 and gave the company an “outperform” rating in a report on Thursday, August 1st. Cibc World Mkts upgraded shares of New Gold to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, BMO Capital Markets raised their target price on shares of New Gold from C$4.25 to C$4.50 in a report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, New Gold presently has a consensus rating of “Buy” and a consensus target price of C$3.71.

New Gold Stock Up 0.8 %

Shares of TSE NGD opened at C$3.86 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.50 and a debt-to-equity ratio of 52.45. New Gold has a 52 week low of C$1.47 and a 52 week high of C$4.37. The firm has a 50-day moving average price of C$3.82 and a 200 day moving average price of C$3.16. The stock has a market capitalization of C$3.05 billion, a price-to-earnings ratio of -96.50, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59.

New Gold (TSE:NGD) (ARCA:NGD) last announced its quarterly earnings data on Tuesday, July 30th. The company reported C$0.03 EPS for the quarter, beating the consensus estimate of C$0.02 by C$0.01. New Gold had a negative net margin of 2.53% and a negative return on equity of 2.23%. The firm had revenue of C$298.55 million during the quarter.

Insider Transactions at New Gold

In related news, Senior Officer Sean William Keating sold 45,833 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of C$4.17, for a total value of C$191,123.61. Insiders own 4.92% 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.