New Gold Inc. (TSE:NGD - Free Report) ARCA: NGD - Research analysts at National Bank Financial upped their FY2024 earnings estimates for New Gold in a report released on Wednesday, October 30th. National Bank Financial analyst M. Parkin now forecasts that the company will earn $0.29 per share for the year, up from their prior estimate of $0.25. National Bank Financial also issued estimates for New Gold's FY2025 earnings at $0.57 EPS.
New Gold (TSE:NGD - Get Free Report) ARCA: NGD last posted its earnings results on Tuesday, July 30th. The company reported C$0.03 EPS for the quarter, beating analysts' consensus estimates of C$0.02 by C$0.01. The firm had revenue of C$298.55 million for the quarter. New Gold had a negative return on equity of 2.23% and a negative net margin of 2.53%.
Several other equities analysts also recently issued reports on NGD. BMO Capital Markets increased their price objective on shares of New Gold from C$4.25 to C$4.50 in a report on Wednesday, July 31st. Cibc World Mkts upgraded New Gold to a "strong-buy" rating in a report on Wednesday, July 10th. Canaccord Genuity Group increased their target price on New Gold from C$4.00 to C$4.50 and gave the company a "buy" rating in a report on Thursday, August 22nd. Finally, National Bankshares lifted their price target on New Gold from C$4.00 to C$4.25 and gave the stock an "outperform" rating in a research note on Thursday, August 1st. 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. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of C$3.71.
Read Our Latest Analysis on New Gold
New Gold Price Performance
NGD traded up C$0.04 during trading on Friday, hitting C$3.87. The company's stock had a trading volume of 1,139,453 shares, compared to its average volume of 1,438,334. The firm has a market capitalization of C$3.06 billion, a price-to-earnings ratio of -95.75, a P/E/G ratio of -3.02 and a beta of 1.59. New Gold has a twelve month low of C$1.47 and a twelve month high of C$4.37. The business's fifty day simple moving average is C$3.81 and its 200 day simple moving average is C$3.16. The company has a current ratio of 1.50, a quick ratio of 1.64 and a debt-to-equity ratio of 52.45.
Insiders Place Their Bets
In other New Gold news, Senior Officer Sean William Keating sold 50,000 shares of the business's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of C$3.63, for a total value of C$181,500.00. Corporate insiders own 4.92% of the company's stock.
New Gold Company Profile
(
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.
See Also
Before you consider New Gold, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New Gold wasn't on the list.
While New Gold currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
