
New Gold Inc. (NYSE:NGD - Free Report) - Investment analysts at National Bank Financial dropped their FY2026 earnings per share (EPS) estimates for shares of New Gold in a report released on Monday, July 28th. National Bank Financial analyst M. Sidibe now anticipates that the company will post earnings per share of $0.95 for the year, down from their previous estimate of $0.99. The consensus estimate for New Gold's current full-year earnings is $0.25 per share.
NGD has been the topic of several other research reports. Raymond James Financial upgraded shares of New Gold to a "hold" rating and set a $4.00 price target on the stock in a research report on Monday, June 30th. Wall Street Zen upgraded shares of New Gold from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Scotiabank restated an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. National Bankshares restated an "outperform" rating on shares of New Gold in a research report on Tuesday, June 24th. Finally, CIBC raised their price target on shares of New Gold from $5.50 to $6.25 and gave the company an "outperformer" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, New Gold has an average rating of "Buy" and a consensus target price of $4.38.
Check Out Our Latest Research Report on New Gold
New Gold Stock Performance
NGD traded up $0.14 during midday trading on Thursday, hitting $4.40. 6,415,320 shares of the company were exchanged, compared to its average volume of 20,211,670. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 33.81 and a beta of 0.45. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The company's 50 day simple moving average is $4.65 and its 200 day simple moving average is $3.77. New Gold has a 1-year low of $1.94 and a 1-year high of $5.16.
Hedge Funds Weigh In On New Gold
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its stake in shares of New Gold by 213.8% in the fourth quarter. Russell Investments Group Ltd. now owns 512,510 shares of the company's stock worth $1,273,000 after buying an additional 349,167 shares in the last quarter. Financial Sense Advisors Inc. purchased a new position in New Gold during the first quarter worth about $652,000. Renaissance Technologies LLC raised its stake in New Gold by 11.6% during the fourth quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company's stock worth $62,363,000 after purchasing an additional 2,619,782 shares during the period. Foundry Partners LLC purchased a new position in New Gold during the first quarter worth about $3,960,000. Finally, Dimensional Fund Advisors LP raised its stake in New Gold by 97.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,944,585 shares of the company's stock worth $14,742,000 after purchasing an additional 2,931,470 shares during the period. 42.82% of the stock is owned by hedge funds and other 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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