Scotiabank Has Negative Outlook for New Gold FY2026 Earnings

New Gold Inc. (NYSE:NGD) – Research analysts at Scotiabank dropped their FY2026 earnings per share estimates for shares of New Gold in a research note issued to investors on Sunday, April 13th. Scotiabank analyst E. Winmill now forecasts that the company will post earnings of $0.37 per share for the year, down from their prior estimate 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.

Other equities research analysts have also issued reports about the stock. National Bank Financial upgraded shares of New Gold to a “strong-buy” rating in a report on Friday, March 21st. New Street Research set a $3.90 price objective on shares of New Gold in a research note on Wednesday, March 26th. CIBC cut their target price on New Gold from $3.60 to $3.40 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. National Bankshares reaffirmed an “outperform” rating on shares of New Gold in a research report on Wednesday, April 2nd. Finally, Raymond James set a $4.00 price objective on New Gold and gave the stock a “market perform” rating in a research report on Friday, April 4th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $3.85.

New Gold Stock Performance

Shares of NGD stock opened at $3.64 on Wednesday. The company has a market capitalization of $2.88 billion, a P/E ratio of 28.00 and a beta of 0.93. New Gold has a fifty-two week low of $1.66 and a fifty-two week high of $3.86. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. The stock has a 50 day moving average price of $3.16 and a two-hundred day moving average price of $2.91.

Institutional Trading of New Gold

Large investors have recently bought and sold shares of the company. Hillsdale Investment Management Inc. lifted its position in New Gold by 97.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 9,482,782 shares of the company’s stock valued at $23,657,000 after acquiring an additional 4,671,399 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of New Gold by 97.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,944,585 shares of the company’s stock worth $14,742,000 after acquiring an additional 2,931,470 shares during the last quarter. Nokomis Capital L.L.C. lifted its position in shares of New Gold by 203.8% during the 4th quarter. Nokomis Capital L.L.C. now owns 4,147,296 shares of the company’s stock valued at $10,285,000 after buying an additional 2,782,296 shares in the last quarter. Renaissance Technologies LLC increased its stake 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 worth $62,363,000 after purchasing an additional 2,619,782 shares in the last quarter. Finally, Bank of Montreal Can lifted 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 acquiring an additional 2,613,285 shares in the last quarter. 42.82% of the stock is owned by institutional investors.

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.