FY2027 EPS Estimates for New Gold Boosted by Analyst

New Gold Inc. (NYSE:NGD - Free Report) - Equities researchers at National Bank Financial increased their FY2027 earnings per share (EPS) estimates for shares of New Gold in a report released on Wednesday, April 30th. National Bank Financial analyst M. Sidibe now expects that the company will post earnings per share of $0.69 for the year, up from their prior forecast of $0.59. National Bank Financial has a "Strong-Buy" rating on the stock. The consensus estimate for New Gold's current full-year earnings is $0.25 per share.

A number of other equities research analysts have also recently weighed in on NGD. StockNews.com cut shares of New Gold from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. New Street Research set a $3.90 price objective on shares of New Gold in a research report on Wednesday, March 26th. Raymond James set a $4.00 target price on New Gold and gave the stock a "market perform" rating in a research report on Friday, April 4th. Scotiabank reissued an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. Finally, CIBC cut their target price on shares of New Gold from $3.60 to $3.40 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $3.85.

New Gold Trading Down 3.6 %

NYSE:NGD traded down $0.15 on Friday, hitting $4.05. The stock had a trading volume of 18,609,161 shares, compared to its average volume of 12,598,916. New Gold has a 1-year low of $1.74 and a 1-year high of $4.21. The company has a fifty day moving average price of $3.36 and a two-hundred day moving average price of $2.98. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 31.19 and a beta of 0.54. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in shares of New Gold by 11.6% in the fourth quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company's stock valued at $62,363,000 after buying an additional 2,619,782 shares in the last quarter. Invesco Ltd. lifted its stake in New Gold by 3.6% during the fourth quarter. Invesco Ltd. now owns 13,481,005 shares of the company's stock valued at $33,433,000 after purchasing an additional 469,748 shares during the last quarter. American Century Companies Inc. increased its stake in New Gold by 3.9% in the 4th quarter. American Century Companies Inc. now owns 12,250,758 shares of the company's stock worth $30,577,000 after purchasing an additional 459,317 shares in the last quarter. Bank of Montreal Can raised its stake in New Gold by 36.9% during the 4th quarter. Bank of Montreal Can now owns 9,703,381 shares of the company's stock valued at $24,203,000 after purchasing an additional 2,613,285 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its position in New Gold by 97.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 9,482,782 shares of the company's stock worth $23,657,000 after acquiring an additional 4,671,399 shares during the period. 42.82% of the stock is owned by hedge funds and other institutional investors.

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.