Equities Analysts Issue Forecasts for New Gold Inc.’s FY2024 Earnings (TSE:NGD)

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Equities research analysts at National Bank Financial increased their FY2024 earnings per share estimates for New Gold in a research note issued to investors on Wednesday, May 1st. National Bank Financial analyst M. Parkin now forecasts that the company will earn $0.23 per share for the year, up from their prior estimate of $0.10. National Bank Financial currently has a “Sector Perform Spec Overwgt” rating on the stock. The consensus estimate for New Gold’s current full-year earnings is $0.18 per share. National Bank Financial also issued estimates for New Gold’s FY2025 earnings at $0.32 EPS.

Several other equities analysts have also recently issued reports on NGD. Bank of America boosted their price objective on New Gold from C$1.90 to C$2.30 in a report on Tuesday, April 9th. Canaccord Genuity Group boosted their price target on New Gold from C$2.75 to C$3.00 in a report on Tuesday, April 23rd. Finally, National Bankshares dropped their price objective on shares of New Gold from C$2.25 to C$2.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 20th.

New Gold Stock Up 0.8 %

TSE:NGD opened at C$2.57 on Monday. The company has a debt-to-equity ratio of 54.32, a current ratio of 1.51 and a quick ratio of 1.64. The company’s fifty day moving average price is C$2.29 and its 200-day moving average price is C$1.94. New Gold has a 1-year low of C$1.17 and a 1-year high of C$2.68. The firm has a market capitalization of C$1.77 billion, a P/E ratio of -18.36, a PEG ratio of -3.02 and a beta of 1.61.

New Gold (TSE:NGD) (ARCA:NGD) last issued its quarterly earnings results on Tuesday, February 13th. The company reported C($0.01) earnings per share for the quarter, missing the consensus estimate of C$0.03 by C($0.04). New Gold had a negative return on equity of 9.44% and a negative net margin of 9.81%. The business had revenue of C$271.22 million during the quarter.

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.