FY2027 EPS Estimates for New Gold Increased by Analyst

New Gold Inc. (NYSE:NGD - Free Report) - Stock analysts at National Bank Financial boosted their FY2027 earnings estimates for shares of New Gold in a research note issued on Wednesday, April 30th. National Bank Financial analyst M. Sidibe now anticipates that the company will earn $0.69 per share 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 analysts also recently commented on the stock. StockNews.com downgraded shares of New Gold from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. National Bankshares reaffirmed an "outperform" rating on shares of New Gold in a research report on Wednesday, April 2nd. CIBC dropped their price target on New Gold from $3.60 to $3.40 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Scotiabank restated an "outperform" rating on shares of New Gold in a report on Monday, April 14th. Finally, Raymond James set a $4.00 target price on shares of New Gold and gave the stock a "market perform" rating in a report on Friday, April 4th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $3.85.

New Gold Trading Up 6.9 %

Shares of NGD traded up $0.27 during trading hours on Friday, reaching $4.20. 29,336,373 shares of the company traded hands, compared to its average volume of 12,539,524. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 32.31 and a beta of 0.54. New Gold has a 12-month low of $1.74 and a 12-month high of $4.20. The stock's fifty day moving average price is $3.33 and its 200 day moving average price is $2.97. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38.

Hedge Funds Weigh In On New Gold

A number of large investors have recently made changes to their positions in NGD. Hillsdale Investment Management Inc. boosted its holdings in New Gold by 97.1% in the fourth 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 in the last quarter. Dimensional Fund Advisors LP raised its position in shares of New Gold by 97.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,944,585 shares of the company's stock valued at $14,742,000 after purchasing an additional 2,931,470 shares during the last quarter. Nokomis Capital L.L.C. boosted its stake in New Gold by 203.8% in the 4th quarter. Nokomis Capital L.L.C. now owns 4,147,296 shares of the company's stock worth $10,285,000 after purchasing an additional 2,782,296 shares in the last quarter. Renaissance Technologies LLC grew its position in New Gold by 11.6% during the 4th 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 last quarter. Finally, Bank of Montreal Can increased 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 in the last quarter. 42.82% of the stock is owned by institutional investors and hedge funds.

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.