Raymond James Brokers Boost Earnings Estimates for New Gold

New Gold Inc. (NYSE:NGD) – Stock analysts at Raymond James upped their Q4 2024 EPS estimates for New Gold in a report released on Monday, February 3rd. Raymond James analyst F. Hamed now anticipates that the company will earn $0.06 per share for the quarter, up from their previous estimate of $0.05. The consensus estimate for New Gold’s current full-year earnings is $0.18 per share. Raymond James also issued estimates for New Gold’s Q1 2025 earnings at $0.03 EPS, Q2 2025 earnings at $0.05 EPS, Q3 2025 earnings at $0.05 EPS and Q4 2025 earnings at $0.05 EPS.

Separately, StockNews.com raised New Gold from a “hold” rating to a “buy” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, New Gold presently has a consensus rating of “Buy” and a consensus price target of $3.41.

New Gold Price Performance

Shares of NGD opened at $2.99 on Thursday. The business’s fifty day moving average is $2.75 and its 200 day moving average is $2.68. New Gold has a 12-month low of $1.09 and a 12-month high of $3.25. The company has a quick ratio of 0.84, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The stock has a market cap of $2.36 billion, a P/E ratio of 149.50 and a beta of 1.36.

Institutional Trading of New Gold

A number of large investors have recently added to or reduced their stakes in NGD. Van ECK Associates Corp lifted its position in shares of New Gold by 5.0% during the third quarter. Van ECK Associates Corp now owns 73,884,631 shares of the company’s stock worth $215,743,000 after acquiring an additional 3,541,882 shares in the last quarter. JGP Global Gestao de Recursos Ltda. grew its position in New Gold by 27.8% during the fourth quarter. JGP Global Gestao de Recursos Ltda. now owns 6,500,000 shares of the company’s stock worth $16,120,000 after buying an additional 1,412,003 shares in the last quarter. Two Sigma Advisers LP increased its stake in New Gold by 18.7% in the 3rd quarter. Two Sigma Advisers LP now owns 4,322,930 shares of the company’s stock worth $12,450,000 after acquiring an additional 681,822 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of New Gold by 9,360.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,692,614 shares of the company’s stock valued at $7,755,000 after acquiring an additional 2,664,153 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of New Gold by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,394,885 shares of the company’s stock valued at $4,670,000 after acquiring an additional 200,799 shares during the last quarter. Hedge funds and other institutional investors own 42.82% of the company’s stock.

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.