New Gold Inc. (TSE:NGD) Expected to Earn Q3 2024 Earnings of $0.04 Per Share

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Stock analysts at Raymond James issued their Q3 2024 earnings estimates for New Gold in a research report issued to clients and investors on Monday, September 23rd. Raymond James analyst F. Hamed forecasts that the company will post earnings of $0.04 per share for the quarter. The consensus estimate for New Gold’s current full-year earnings is $0.37 per share. Raymond James also issued estimates for New Gold’s Q4 2024 earnings at $0.08 EPS, FY2024 earnings at $0.19 EPS, Q1 2025 earnings at $0.08 EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.08 EPS, Q4 2025 earnings at $0.08 EPS and FY2025 earnings at $0.34 EPS.

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

A number of other research analysts also recently weighed in on the company. BMO Capital Markets increased their target price on New Gold from C$4.25 to C$4.50 in a report on Wednesday, July 31st. Cibc World Mkts raised shares of New Gold to a “strong-buy” rating in a report on Wednesday, July 10th. National Bankshares lifted their price target on shares of New Gold from C$4.00 to C$4.25 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Canaccord Genuity Group raised their target price on New Gold from C$4.00 to C$4.50 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, CIBC raised New Gold from a “neutral” rating to an “outperform” rating and boosted their price target for the company from C$2.10 to C$3.00 in a report on Monday, June 3rd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, New Gold presently has an average rating of “Buy” and an average target price of C$3.71.

New Gold Stock Performance

NGD stock opened at C$3.99 on Thursday. The company has a debt-to-equity ratio of 52.45, a current ratio of 1.50 and a quick ratio of 1.64. New Gold has a 1 year low of C$1.17 and a 1 year high of C$4.37. The company has a market cap of C$3.15 billion, a P/E ratio of -99.75, a price-to-earnings-growth ratio of -3.02 and a beta of 1.57. The stock’s fifty day moving average price is C$3.45 and its 200-day moving average price is C$2.91.

Insiders Place Their Bets

In other news, Senior Officer Sean William Keating sold 45,833 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of C$4.17, for a total transaction of C$191,123.61. Corporate insiders own 4.92% 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.