FY2026 Earnings Estimate for New Gold Issued By Scotiabank

New Gold Inc. (NYSE:NGD - Free Report) - Stock analysts at Scotiabank lowered their FY2026 earnings estimates for shares of New Gold in a report issued on Sunday, April 13th. Scotiabank analyst E. Winmill now anticipates that the company will post earnings per share of $0.37 for the year, down from their prior forecast of $0.38. Scotiabank currently has a "Outperform" 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 have also commented on NGD. National Bankshares reissued an "outperform" rating on shares of New Gold in a research note on Wednesday, April 2nd. CIBC decreased their price objective on shares of New Gold from $3.60 to $3.40 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Bank of America raised shares of New Gold from an "underperform" rating to a "buy" rating and boosted their target price for the stock from $2.60 to $3.90 in a research note on Wednesday, March 26th. New Street Research set a $3.90 price target on shares of New Gold in a research note on Wednesday, March 26th. Finally, National Bank Financial raised New Gold to a "strong-buy" rating in a report on Friday, March 21st. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, New Gold has an average rating of "Buy" and an average price target of $3.85.

New Gold Price Performance

Shares of NYSE:NGD traded up $0.01 during trading on Wednesday, reaching $3.65. The stock had a trading volume of 18,729,093 shares, compared to its average volume of 11,551,190. The stock has a market capitalization of $2.89 billion, a PE ratio of 28.08 and a beta of 0.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. New Gold has a 52 week low of $1.66 and a 52 week high of $3.86. The business's 50-day moving average price is $3.17 and its 200 day moving average price is $2.91.

Institutional Investors Weigh In On New Gold

A number of institutional investors have recently made changes to their positions in NGD. Captrust Financial Advisors boosted its holdings in New Gold by 17.6% during the third quarter. Captrust Financial Advisors now owns 44,700 shares of the company's stock worth $129,000 after buying an additional 6,700 shares during the last quarter. HighTower Advisors LLC boosted its stake in New Gold by 505.1% during the 3rd quarter. HighTower Advisors LLC now owns 111,360 shares of the company's stock worth $320,000 after acquiring an additional 92,956 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in New Gold during the 3rd quarter worth approximately $704,000. Geode Capital Management LLC grew its holdings in New Gold by 2.0% during the third quarter. Geode Capital Management LLC now owns 372,373 shares of the company's stock valued at $1,084,000 after purchasing an additional 7,394 shares during the period. Finally, Toronto Dominion Bank increased its stake in New Gold by 92.6% in the third quarter. Toronto Dominion Bank now owns 110,318 shares of the company's stock valued at $318,000 after purchasing an additional 53,051 shares in the last quarter. 42.82% of the stock is owned by institutional investors and hedge funds.

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.