FY2025 EPS Estimates for New Gold Boosted by Analyst

New Gold Inc. (NYSE:NGD - Free Report) - Investment analysts at National Bank Financial increased their FY2025 earnings per share (EPS) estimates for shares of New Gold in a report issued on Tuesday, April 22nd. National Bank Financial analyst M. Sidibe now expects that the company will post earnings per share of $0.42 for the year, up from their previous forecast of $0.35. 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. National Bank Financial also issued estimates for New Gold's FY2026 earnings at $0.81 EPS.

A number of other research analysts have also recently commented on NGD. Raymond James set a $4.00 price target on New Gold and gave the stock a "market perform" rating in a research report on Friday, April 4th. New Street Research set a $3.90 target price on New Gold in a research report on Wednesday, March 26th. National Bankshares reiterated an "outperform" rating on shares of New Gold in a research report on Wednesday, April 2nd. Bank of America upgraded New Gold from an "underperform" rating to a "buy" rating and lifted their target price for the company from $2.60 to $3.90 in a research report on Wednesday, March 26th. Finally, CIBC decreased their target price 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. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, New Gold currently has an average rating of "Buy" and an average price target of $3.85.

New Gold Price Performance

Shares of NYSE NGD traded up $0.52 during mid-day trading on Friday, reaching $3.87. The company had a trading volume of 23,379,955 shares, compared to its average volume of 12,154,720. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. New Gold has a one year low of $1.73 and a one year high of $3.89. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 29.77 and a beta of 0.93. The business's 50-day simple moving average is $3.24 and its 200 day simple moving average is $2.94.

Hedge Funds Weigh In On New Gold

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Atria Wealth Solutions Inc. acquired a new position in shares of New Gold in the fourth quarter worth approximately $87,000. 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 acquiring an additional 349,167 shares during the period. Virtu Financial LLC acquired a new position in shares of New Gold in the third quarter worth approximately $941,000. Raymond James Financial Inc. acquired a new position in shares of New Gold in the fourth quarter worth approximately $1,918,000. Finally, Renaissance Technologies LLC lifted 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 worth $62,363,000 after acquiring an additional 2,619,782 shares during the period. 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.