New Gold Inc. (NYSE:NGD - Free Report) - Equities research analysts at National Bank Financial boosted their FY2026 earnings per share estimates for shares of New Gold in a research note issued on Wednesday, October 30th. National Bank Financial analyst M. Parkin now anticipates that the company will earn $0.53 per share for the year, up from their previous forecast of $0.32. The consensus estimate for New Gold's current full-year earnings is $0.17 per share.
New Gold (NYSE:NGD - Get Free Report) last announced its quarterly earnings results 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 net margin of 2.33% and a return on equity of 9.38%.
Other analysts also recently issued reports about the company. Scotiabank increased their target price 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. StockNews.com raised shares of New Gold from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Royal Bank of Canada increased their price target on New Gold from $3.00 to $3.50 and gave the company an "outperform" rating in a report on Tuesday, September 10th. CIBC increased their target price on New Gold from $3.00 to $3.40 and gave the company an "outperformer" rating in a report on Wednesday, July 10th. Finally, Cibc World Mkts upgraded shares of New Gold to a "strong-buy" rating in a research note on Wednesday, July 10th. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, New Gold presently has an average rating of "Buy" and an average target price of $3.08.
Get Our Latest Stock Report on NGD
New Gold Stock Performance
Shares of NYSE:NGD traded down $0.01 during trading on Monday, reaching $2.76. 6,847,508 shares of the stock traded hands, compared to its average volume of 8,142,776. The company has a market capitalization of $2.18 billion, a PE ratio of 139.50 and a beta of 1.31. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.98 and a current ratio of 1.42. The firm's 50-day moving average price is $2.81. New Gold has a 52-week low of $1.09 and a 52-week high of $3.25.
Institutional Investors Weigh In On New Gold
Several large investors have recently made changes to their positions in NGD. Mackenzie Financial Corp lifted its holdings in shares of New Gold by 57.3% in the 2nd quarter. Mackenzie Financial Corp now owns 16,328,086 shares of the company's stock valued at $32,229,000 after acquiring an additional 5,948,394 shares during the last quarter. Van ECK Associates Corp grew its stake in New Gold by 5.0% in the 3rd quarter. Van ECK Associates Corp now owns 73,884,631 shares of the company's stock worth $215,743,000 after acquiring an additional 3,541,882 shares in the last quarter. Renaissance Technologies LLC increased its holdings in New Gold by 13.5% during the 2nd quarter. Renaissance Technologies LLC now owns 20,111,264 shares of the company's stock worth $39,217,000 after purchasing an additional 2,399,200 shares during the period. Herr Investment Group LLC increased its stake in shares of New Gold by 40.4% during the second quarter. Herr Investment Group LLC now owns 5,210,363 shares of the company's stock valued at $10,160,000 after buying an additional 1,499,745 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in shares of New Gold by 196.2% in the 2nd quarter. CIBC Asset Management Inc now owns 2,060,975 shares of the company's stock valued at $4,065,000 after purchasing an additional 1,365,089 shares in the last quarter. 42.82% of the stock is owned by 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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