New Gold Inc. (NYSE:NGD - Free Report) - Research analysts at National Bank Financial increased their FY2024 earnings per share (EPS) estimates for New Gold in a report released on Wednesday, October 30th. National Bank Financial analyst M. Parkin now forecasts that the company will post earnings per share of $0.21 for the year, up from their prior estimate of $0.18. The consensus estimate for New Gold's current full-year earnings is $0.15 per share. National Bank Financial also issued estimates for New Gold's FY2025 earnings at $0.41 EPS.
A number of other research analysts have also recently commented on NGD. Royal Bank of Canada increased their target price on New Gold from $3.00 to $3.50 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. StockNews.com raised New Gold from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. CIBC raised their price objective on New Gold from $3.00 to $3.40 and gave the company an "outperformer" rating in a research note on Wednesday, July 10th. Scotiabank raised their price objective on New Gold from $2.75 to $3.25 and gave the company a "sector outperform" rating in a research note on Tuesday, September 17th. Finally, Cibc World Mkts raised New Gold to a "strong-buy" rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $3.08.
Read Our Latest Report on New Gold
New Gold Stock Performance
NGD traded up $0.02 during trading on Friday, reaching $2.77. The stock had a trading volume of 10,213,795 shares, compared to its average volume of 8,148,481. The stock has a market capitalization of $2.19 billion, a PE ratio of 138.50 and a beta of 1.30. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 0.45. New Gold has a one year low of $1.09 and a one year high of $3.25. The firm's 50-day moving average is $2.81.
New Gold (NYSE:NGD - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.04. The company had revenue of $252.00 million for the quarter. New Gold had a return on equity of 8.56% and a net margin of 2.33%.
Institutional Trading of New Gold
Institutional investors and hedge funds have recently bought and sold shares of the stock. Morton Capital Management LLC CA lifted its holdings in shares of New Gold by 23.3% during the second quarter. Morton Capital Management LLC CA now owns 26,494 shares of the company's stock valued at $52,000 after purchasing an additional 5,000 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of New Gold by 15.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 47,722 shares of the company's stock valued at $93,000 after purchasing an additional 6,252 shares during the last quarter. Kohmann Bosshard Financial Services LLC lifted its holdings in shares of New Gold by 34.6% during the third quarter. Kohmann Bosshard Financial Services LLC now owns 35,000 shares of the company's stock valued at $101,000 after purchasing an additional 9,000 shares during the last quarter. Allworth Financial LP lifted its holdings 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 purchasing an additional 9,418 shares during the last quarter. Finally, Eastern Bank purchased a new position in shares of New Gold during the third quarter valued at approximately $33,000. 42.82% of the stock is currently owned by hedge funds and other institutional investors.
About New Gold
(
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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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