New Gold FY2024 EPS Decreased by National Bank Financial

New Gold Inc. (NYSE:NGD) – Analysts at National Bank Financial decreased their FY2024 earnings per share (EPS) estimates for New Gold in a research report issued on Monday, February 10th. National Bank Financial analyst M. Parkin now anticipates that the company will post earnings per share of $0.19 for the year, down from their prior estimate of $0.21. The consensus estimate for New Gold’s current full-year earnings is $0.19 per share. National Bank Financial also issued estimates for New Gold’s FY2025 earnings at $0.35 EPS.

Separately, StockNews.com upgraded shares of New Gold from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $3.41.

New Gold Stock Down 0.3 %

NGD stock opened at $3.00 on Thursday. New Gold has a fifty-two week low of $1.09 and a fifty-two week high of $3.25. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.84. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 27.18 and a beta of 1.36. The business’s fifty day moving average price is $2.76 and its two-hundred day moving average price is $2.71.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its holdings in shares of New Gold by 0.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,471,000 shares of the company’s stock valued at $3,669,000 after purchasing an additional 4,500 shares during the last quarter. Oxbow Advisors LLC boosted its position in New Gold by 1.7% in the fourth quarter. Oxbow Advisors LLC now owns 277,000 shares of the company’s stock valued at $687,000 after buying an additional 4,624 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of New Gold by 11.9% during the fourth quarter. Bank of New York Mellon Corp now owns 50,292 shares of the company’s stock worth $125,000 after buying an additional 5,331 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of 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 in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of New Gold by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 372,373 shares of the company’s stock valued at $1,084,000 after acquiring an additional 7,394 shares during the last quarter. Institutional investors and hedge funds own 42.82% 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.