FY2024 Earnings Estimate for New Gold Inc. (TSE:NGD) Issued By Raymond James

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Stock analysts at Raymond James upped their FY2024 EPS estimates for shares of New Gold in a research note issued on Wednesday, May 22nd. Raymond James analyst F. Hamed now expects that the company will earn $0.15 per share for the year, up from their previous forecast of $0.14. The consensus estimate for New Gold’s current full-year earnings is $0.22 per share. Raymond James also issued estimates for New Gold’s Q1 2025 earnings at $0.04 EPS, Q2 2025 earnings at $0.04 EPS, Q3 2025 earnings at $0.04 EPS and Q4 2025 earnings at $0.04 EPS.

New Gold (TSE:NGD) (ARCA:NGD) last released its earnings results on Tuesday, April 30th. The company reported C$0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.01 by C$0.02. New Gold had a negative net margin of 9.81% and a negative return on equity of 9.44%. The company had revenue of C$258.98 million for the quarter.

NGD has been the subject of a number of other reports. Canaccord Genuity Group upped their price target on New Gold from C$2.75 to C$3.00 in a research note on Tuesday, April 23rd. TD Securities raised New Gold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 21st. National Bankshares raised New Gold from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$3.25 to C$3.50 in a research note on Tuesday, May 21st. Scotiabank raised New Gold from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 21st. Finally, National Bank Financial raised New Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 17th. One analyst has rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$2.76.

New Gold Stock Performance

New Gold stock opened at C$2.69 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.64 and a debt-to-equity ratio of 54.32. New Gold has a 1 year low of C$1.17 and a 1 year high of C$3.00. The company has a market cap of C$1.86 billion, a PE ratio of -19.21, a PEG ratio of -3.02 and a beta of 1.60. The company’s 50-day moving average is C$2.46 and its two-hundred day moving average is C$2.04.

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.