National Bank Financial Expects Higher Earnings for New Gold

Key Points

• National Bank Financial has increased its FY2025 EPS estimate for New Gold from $0.51 to $0.52, while the current consensus estimate is $0.25 per share.
• The stock has received multiple upgrades from analysts, with a consensus rating of "Buy" and an average target price of $4.38.
• New Gold's stock was up 4.4%, with current trading at $4.31, showing significant improvement from its one-year low of $1.94.

New Gold Inc. (NYSE:NGD - Free Report) - Research analysts at National Bank Financial boosted their FY2025 earnings per share (EPS) estimates for shares of New Gold in a research note issued to investors on Monday, July 28th. National Bank Financial analyst M. Sidibe now expects that the company will post earnings of $0.52 per share for the year, up from their prior forecast of $0.51. The consensus estimate for New Gold's current full-year earnings is $0.25 per share. National Bank Financial also issued estimates for New Gold's FY2027 earnings at $0.81 EPS.

Several other research firms have also issued reports on NGD. Wall Street Zen raised New Gold from a "hold" rating to a "buy" rating in a report on Friday, May 9th. National Bankshares restated an "outperform" rating on shares of New Gold in a research report on Tuesday, June 24th. CIBC increased their price objective on New Gold from $5.50 to $6.25 and gave the stock an "outperformer" rating in a research report on Tuesday, July 15th. Raymond James Financial upgraded New Gold to a "hold" rating and set a $4.00 price target on the stock in a research report on Monday, June 30th. Finally, Scotiabank restated an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, New Gold has an average rating of "Buy" and an average price target of $4.38.

New Gold Stock Performance

Shares of NGD stock traded up $0.07 during trading on Wednesday, hitting $4.26. The company's stock had a trading volume of 12,920,025 shares, compared to its average volume of 20,308,570. The company has a market cap of $3.37 billion, a PE ratio of 32.77 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 business has a fifty day moving average of $4.65 and a 200-day moving average of $3.76. New Gold has a 52 week low of $1.94 and a 52 week high of $5.16.

Institutional Trading of New Gold

Large investors have recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in shares of New Gold in the 4th quarter worth approximately $1,918,000. LPL Financial LLC raised its stake in New Gold by 9.3% during the 4th quarter. LPL Financial LLC now owns 143,964 shares of the company's stock valued at $357,000 after buying an additional 12,292 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of New Gold during the 4th quarter valued at $2,830,000. Franklin Resources Inc. boosted its holdings in New Gold by 1.3% in the 4th quarter. Franklin Resources Inc. now owns 8,496,204 shares of the company's stock worth $21,073,000 after buying an additional 110,500 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of New Gold by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 391,274 shares of the company's stock valued at $987,000 after purchasing an additional 18,901 shares during the last quarter. 42.82% of the stock is owned by institutional investors.

About New Gold

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.