National Bank Financial Comments on New Gold FY2025 Earnings

New Gold Inc. (NYSE:NGD - Free Report) - National Bank Financial cut their FY2025 earnings per share (EPS) estimates for shares of New Gold in a report issued on Wednesday, April 30th. National Bank Financial analyst M. Sidibe now forecasts that the company will post earnings of $0.40 per share for the year, down from their prior estimate of $0.42. National Bank Financial currently has a "Strong-Buy" rating on the stock. The consensus estimate for New Gold's current full-year earnings is $0.25 per share.

NGD has been the topic of a number of other reports. CIBC upped their price objective on shares of New Gold from $3.40 to $4.75 and gave the company an "outperformer" rating in a research note on Thursday. Scotiabank reaffirmed an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. National Bankshares reissued an "outperform" rating on shares of New Gold in a research report on Wednesday, April 2nd. Raymond James set a $4.00 target price on New Gold and gave the company a "market perform" rating in a research report on Friday, April 4th. Finally, StockNews.com raised New Gold from a "hold" rating to a "buy" rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, New Gold presently has a consensus rating of "Buy" and an average price target of $4.04.

New Gold Trading Up 1.7 %

NYSE:NGD traded up $0.07 on Monday, reaching $4.09. 11,617,178 shares of the stock traded hands, compared to its average volume of 19,370,678. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. New Gold has a 1-year low of $1.74 and a 1-year high of $4.21. The company's 50 day moving average is $3.41 and its 200-day moving average is $2.99. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 31.46 and a beta of 0.54.

Institutional Investors Weigh In On New Gold

Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC grew its position in New Gold by 11.6% in the 4th quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company's stock valued at $62,363,000 after purchasing an additional 2,619,782 shares during the period. Invesco Ltd. grew its holdings in shares of 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 buying an additional 469,748 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of New Gold by 3.9% during the fourth quarter. American Century Companies Inc. now owns 12,250,758 shares of the company's stock valued at $30,577,000 after buying an additional 459,317 shares during the last quarter. Bank of Montreal Can increased its position in shares of New Gold by 36.9% during the fourth quarter. Bank of Montreal Can now owns 9,703,381 shares of the company's stock worth $24,203,000 after acquiring an additional 2,613,285 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its holdings in shares of New Gold by 97.1% in 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 last quarter. Institutional investors own 42.82% of the company's stock.

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.