National Bank Financial Forecasts New Gold Q4 Earnings

New Gold Inc. (NYSE:NGD) – Stock analysts at National Bank Financial issued their Q4 2024 earnings per share (EPS) estimates for shares of New Gold in a research note issued to investors on Monday, February 10th. National Bank Financial analyst M. Parkin anticipates that the company will earn $0.06 per share for the quarter. The consensus estimate for New Gold’s current full-year earnings is $0.19 per share.

Several other analysts have also recently commented on NGD. Scotiabank raised their price target on New Gold from $3.50 to $4.00 and gave the company a “sector outperform” rating in a report on Thursday. StockNews.com raised New Gold from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $3.60.

New Gold Stock Up 1.0 %

New Gold stock opened at $3.03 on Wednesday. New Gold has a twelve month low of $1.09 and a twelve month high of $3.25. The stock has a 50 day moving average of $2.77 and a two-hundred day moving average of $2.72. The company has a current ratio of 1.42, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 151.50 and a beta of 1.36.

Hedge Funds Weigh In On New Gold

A number of hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp boosted its holdings in New Gold by 5.0% in the third quarter. Van ECK Associates Corp now owns 73,884,631 shares of the company’s stock worth $215,743,000 after purchasing an additional 3,541,882 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of New Gold by 11.6% in the fourth quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company’s stock valued at $62,363,000 after purchasing an additional 2,619,782 shares during the last quarter. Invesco Ltd. grew its position in shares of New Gold by 3.6% in the fourth quarter. Invesco Ltd. now owns 13,481,005 shares of the company’s stock valued at $33,433,000 after purchasing an additional 469,748 shares during the last quarter. American Century Companies Inc. grew its position in shares of New Gold by 3.9% in the fourth quarter. American Century Companies Inc. now owns 12,250,758 shares of the company’s stock valued at $30,577,000 after purchasing an additional 459,317 shares during the last quarter. Finally, Bank of Montreal Can grew its position in shares of New Gold by 36.9% in the fourth quarter. Bank of Montreal Can now owns 9,703,381 shares of the company’s stock valued at $24,203,000 after purchasing an additional 2,613,285 shares during the last quarter. 42.82% of the stock is owned by institutional investors and hedge funds.

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.