Raymond James Issues Negative Estimate for New Gold Earnings

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Stock analysts at Raymond James lowered their FY2025 earnings estimates for New Gold in a research report issued on Monday, October 21st. Raymond James analyst F. Hamed now forecasts that the company will post earnings of $0.33 per share for the year, down from their prior forecast of $0.34.

Several other equities analysts have also commented on the company. Canaccord Genuity Group upped their target price on New Gold from C$4.00 to C$4.50 and gave the company a “buy” rating in a report on Thursday, August 22nd. BMO Capital Markets upped their price objective on New Gold from C$4.25 to C$4.50 in a research note on Wednesday, July 31st. Cibc World Mkts upgraded New Gold to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, National Bankshares boosted their price target on shares of New Gold from C$4.00 to C$4.25 and gave the company an “outperform” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$3.71.

New Gold Price Performance

NGD opened at C$4.01 on Thursday. The company has a quick ratio of 1.64, a current ratio of 1.50 and a debt-to-equity ratio of 52.45. The company’s 50-day moving average price is C$3.77 and its 200 day moving average price is C$3.12. New Gold has a fifty-two week low of C$1.44 and a fifty-two week high of C$4.37. The firm has a market cap of C$3.17 billion, a price-to-earnings ratio of -100.25, a price-to-earnings-growth ratio of -3.02 and a beta of 1.59.

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

Insider Buying and Selling at New Gold

In other news, Senior Officer Sean William Keating sold 50,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of C$3.63, for a total value of C$181,500.00. 4.92% of the stock is owned by company insiders.

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.