Scotiabank Has Bearish Outlook for New Gold FY2026 Earnings

New Gold Inc. (NYSE:NGD - Free Report) - Equities researchers at Scotiabank reduced their FY2026 earnings per share estimates for shares of New Gold in a note issued to investors on Sunday, April 13th. Scotiabank analyst E. Winmill now expects that the company will post earnings per share of $0.37 for the year, down from their previous forecast of $0.38. Scotiabank has a "Outperform" rating on the stock. The consensus estimate for New Gold's current full-year earnings is $0.25 per share.

Other equities analysts have also recently issued research reports about the stock. National Bank Financial upgraded shares of New Gold to a "strong-buy" rating in a research report on Friday, March 21st. Raymond James set a $4.00 price target on New Gold and gave the company a "market perform" rating in a research report on Friday, April 4th. New Street Research set a $3.90 target price on New Gold in a research note on Wednesday, March 26th. CIBC decreased their target price on New Gold from $3.60 to $3.40 and set an "outperform" rating for the company in a report on Thursday, February 27th. Finally, Bank of America upgraded shares of New Gold from an "underperform" rating to a "buy" rating and lifted their price target for the company from $2.60 to $3.90 in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $3.85.

New Gold Trading Down 2.7 %

Shares of NYSE NGD traded down $0.10 during mid-day trading on Wednesday, hitting $3.64. The stock had a trading volume of 23,362,842 shares, compared to its average volume of 11,505,908. The business has a 50 day moving average price of $3.17 and a two-hundred day moving average price of $2.91. New Gold has a 1 year low of $1.66 and a 1 year high of $3.86. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. The firm has a market cap of $2.88 billion, a P/E ratio of 28.00 and a beta of 0.93.

Hedge Funds Weigh In On New Gold

Several large investors have recently modified their holdings of NGD. Ritholtz Wealth Management bought a new position in shares of New Gold in the first quarter worth approximately $116,000. SG Americas Securities LLC lifted its position in New Gold by 69.2% in the 1st quarter. SG Americas Securities LLC now owns 113,640 shares of the company's stock valued at $422,000 after acquiring an additional 46,465 shares in the last quarter. Pinnacle Wealth Management Group Inc. boosted its stake in New Gold by 11.1% during the 1st quarter. Pinnacle Wealth Management Group Inc. now owns 403,830 shares of the company's stock valued at $1,498,000 after purchasing an additional 40,365 shares during the last quarter. Gunderson Capital Management Inc. bought a new stake in shares of New Gold in the 1st quarter worth $138,000. Finally, Wellington Management Group LLP purchased a new position in shares of New Gold in the fourth quarter worth $2,830,000. Hedge funds and other institutional investors own 42.82% 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.