New Gold Inc. (TSE:NGD) Forecasted to Earn Q3 2024 Earnings of $0.04 Per Share

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Stock analysts at Raymond James issued their Q3 2024 earnings per share estimates for shares of New Gold in a report issued on Monday, September 23rd. Raymond James analyst F. Hamed anticipates that the company will post earnings per share of $0.04 for the quarter. The consensus estimate for New Gold’s current full-year earnings is $0.37 per share. Raymond James also issued estimates for New Gold’s Q4 2024 earnings at $0.08 EPS, FY2024 earnings at $0.19 EPS, Q1 2025 earnings at $0.08 EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.08 EPS, Q4 2025 earnings at $0.08 EPS and FY2025 earnings at $0.34 EPS.

Other equities analysts also recently issued reports about the stock. Canaccord Genuity Group increased their price objective on shares of New Gold from C$4.00 to C$4.50 and gave the company a “buy” rating in a research note on Thursday, August 22nd. National Bankshares upped their price objective on New Gold from C$4.00 to C$4.25 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. CIBC upgraded New Gold from a “neutral” rating to an “outperform” rating and lifted their target price for the company from C$2.10 to C$3.00 in a research note on Monday, June 3rd. Cibc World Mkts raised shares of New Gold to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, BMO Capital Markets lifted their price objective on shares of New Gold from C$4.25 to C$4.50 in a research report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, New Gold presently has an average rating of “Buy” and an average price target of C$3.71.

New Gold Stock Performance

NGD stock opened at C$3.99 on Thursday. The company has a debt-to-equity ratio of 52.45, a current ratio of 1.50 and a quick ratio of 1.64. New Gold has a 1-year low of C$1.17 and a 1-year high of C$4.37. The business has a 50-day moving average price of C$3.45 and a 200 day moving average price of C$2.91. The company has a market capitalization of C$3.15 billion, a P/E ratio of -99.75, a PEG ratio of -3.02 and a beta of 1.57.

New Gold (TSE:NGD) (ARCA:NGD) last announced its quarterly earnings data on Tuesday, July 30th. The company reported C$0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.02 by C$0.01. New Gold had a negative return on equity of 2.23% and a negative net margin of 2.53%. The company had revenue of C$298.55 million for the quarter.

Insider Transactions at New Gold

In related news, Senior Officer Sean William Keating sold 45,833 shares of New Gold stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of C$4.17, for a total value of C$191,123.61. Insiders own 4.92% of the company’s stock.

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.