Raymond James Has Optimistic Outlook of New Gold Q4 Earnings

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Equities researchers at Raymond James boosted their Q4 2024 earnings estimates for shares of New Gold in a note issued to investors on Monday, February 3rd. Raymond James analyst F. Hamed now expects that the company will post earnings per share of $0.09 for the quarter, up from their previous forecast of $0.07. Raymond James also issued estimates for New Gold’s Q1 2025 earnings at $0.04 EPS, Q2 2025 earnings at $0.07 EPS, Q3 2025 earnings at $0.07 EPS and Q4 2025 earnings at $0.07 EPS.

New Gold Stock Performance

Shares of NGD stock opened at C$4.43 on Thursday. The company has a debt-to-equity ratio of 52.45, a quick ratio of 1.64 and a current ratio of 1.50. The company has a market capitalization of C$3.50 billion, a P/E ratio of -110.75, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59. The company’s 50 day moving average price is C$3.92 and its two-hundred day moving average price is C$3.72. New Gold has a 52 week low of C$1.47 and a 52 week high of C$4.54.

Insiders Place Their Bets

In other news, Senior Officer Yohann Bouchard sold 100,000 shares of New Gold stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of C$4.25, for a total value of C$425,000.00. Corporate insiders own 4.92% of the company’s stock.

About New Gold

New Gold Inc is an intermediate gold mining company. The company has a portfolio of two producing assets: Rainy River Mine and New Afton Mine in Canada. Also, it has interests in the Cerro San Pedro Mine in Mexico. The company derives revenue from the sale of Gold, Copper, and Silver.