New Gold FY2025 EPS Forecast Cut by National Bank Financial

Key Points

• National Bank Financial has lowered its FY2025 earnings per share estimate for New Gold from $0.71 to $0.69.
• Despite the earnings forecast cut, the stock currently holds a consensus rating of "Buy" with an average target price of C$7.48.
• New Gold's market capitalization stands at C$7.51 billion, with a recent stock price of C$9.48.

New Gold Inc. (NYSE:NGD - Free Report) - Stock analysts at National Bank Financial cut their FY2025 EPS estimates for New Gold in a report released on Tuesday, September 23rd. National Bank Financial analyst M. Sidibe now forecasts that the company will post earnings per share of $0.50 for the year, down from their previous estimate of $0.52. 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 $1.06 EPS.

Several other research analysts also recently commented on the company. National Bankshares reaffirmed an "outperform" rating on shares of New Gold in a research note on Tuesday, September 9th. CIBC lifted their price target on shares of New Gold from $5.50 to $6.25 and gave the company an "outperformer" rating in a report on Tuesday, July 15th. Finally, Raymond James Financial raised shares of New Gold to a "hold" rating and set a $4.00 price objective for the company in a research note on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $4.56.

New Gold Price Performance

Shares of New Gold stock opened at $6.81 on Friday. The stock has a market cap of $5.39 billion, a P/E ratio of 52.39 and a beta of 0.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. The stock's fifty day moving average is $5.49 and its 200 day moving average is $4.55. New Gold has a one year low of $2.43 and a one year high of $7.09.

Hedge Funds Weigh In On New Gold

Several institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of New Gold by 89.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 28,812,369 shares of the company's stock worth $143,011,000 after acquiring an additional 13,591,642 shares in the last quarter. Invesco Ltd. increased its position in New Gold by 16.9% in the first quarter. Invesco Ltd. now owns 15,761,737 shares of the company's stock worth $58,476,000 after purchasing an additional 2,280,732 shares during the last quarter. American Century Companies Inc. raised its stake in New Gold by 3.0% during the second quarter. American Century Companies Inc. now owns 15,610,823 shares of the company's stock valued at $77,586,000 after purchasing an additional 461,170 shares in the last quarter. JPMorgan Chase & Co. lifted its position in New Gold by 86.4% during the second quarter. JPMorgan Chase & Co. now owns 11,465,579 shares of the company's stock valued at $56,755,000 after purchasing an additional 5,314,473 shares during the last quarter. Finally, JGP Global Gestao de Recursos Ltda. lifted its position in New Gold by 64.4% during the first quarter. JGP Global Gestao de Recursos Ltda. now owns 10,687,997 shares of the company's stock valued at $39,652,000 after purchasing an additional 4,187,997 shares during the last quarter. Hedge funds and other 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.

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