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Equities Analysts Offer Predictions for New Gold Q4 Earnings

New Gold logo with Basic Materials background

New Gold Inc. (NYSE:NGD - Free Report) - Equities research analysts at National Bank Financial issued their Q4 2024 earnings estimates for shares of New Gold in a research report issued on Monday, February 10th. National Bank Financial analyst M. Parkin forecasts that the company will earn $0.06 per share for the quarter. The consensus estimate for New Gold's current full-year earnings is $0.19 per share.

Several other analysts have also issued reports on NGD. StockNews.com upgraded shares of New Gold from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. Scotiabank increased their price target on shares of New Gold from $3.50 to $4.00 and gave the stock a "sector outperform" rating in a research report on Thursday. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $3.60.

Check Out Our Latest Analysis on NGD

New Gold Stock Performance

Shares of NYSE:NGD traded down $0.12 on Wednesday, reaching $2.91. 12,180,095 shares of the company's stock were exchanged, compared to its average volume of 12,047,506. The company has a fifty day moving average of $2.77 and a 200-day moving average of $2.72. New Gold has a twelve month low of $1.10 and a twelve month high of $3.25. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 145.50 and a beta of 1.36. The company has a current ratio of 1.42, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Hedge Funds Weigh In On New Gold

Large investors have recently modified their holdings of the business. SIH Partners LLLP bought a new position in shares of New Gold during the fourth quarter valued at $27,000. Tudor Investment Corp ET AL bought a new position in shares of New Gold during the fourth quarter valued at $27,000. Allworth Financial LP raised its stake in shares of New Gold by 941.8% during the third quarter. Allworth Financial LP now owns 10,418 shares of the company's stock valued at $30,000 after acquiring an additional 9,418 shares during the last quarter. DGS Capital Management LLC bought a new position in shares of New Gold during the fourth quarter valued at $30,000. Finally, Samalin Investment Counsel LLC bought a new position in shares of New Gold during the fourth quarter valued at $32,000. Institutional investors own 42.82% of the company's stock.

About New Gold

(Get Free Report)

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.

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