New Gold Inc. (TSE:NGD) Forecasted to Earn FY2024 Earnings of $0.10 Per Share

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Research analysts at National Bank Financial decreased their FY2024 earnings estimates for shares of New Gold in a research note issued on Thursday, April 18th. National Bank Financial analyst M. Parkin now forecasts that the company will post earnings per share of $0.10 for the year, down from their prior forecast of $0.12. National Bank Financial has a “Sector Perform Spec Overwgt” rating on the stock. The consensus estimate for New Gold’s current full-year earnings is $0.14 per share. National Bank Financial also issued estimates for New Gold’s FY2025 earnings at $0.21 EPS.

New Gold (TSE:NGD) (ARCA:NGD) last released its quarterly earnings data on Tuesday, February 13th. The company reported C($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.03 by C($0.04). New Gold had a negative net margin of 8.20% and a negative return on equity of 7.38%. The firm had revenue of C$271.22 million during the quarter.

A number of other research firms have also recently issued reports on NGD. National Bankshares decreased their price objective on shares of New Gold from C$2.25 to C$2.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 20th. Bank of America boosted their price objective on shares of New Gold from C$1.90 to C$2.30 in a research report on Tuesday, April 9th. Finally, Canaccord Genuity Group boosted their price objective on shares of New Gold from C$2.75 to C$3.00 in a research report on Tuesday.

New Gold Price Performance

NGD stock opened at C$2.35 on Monday. The firm’s 50-day moving average price is C$2.08 and its two-hundred day moving average price is C$1.86. New Gold has a 12-month low of C$1.17 and a 12-month high of C$2.67. The stock has a market capitalization of C$1.61 billion, a price-to-earnings ratio of -19.58, a PEG ratio of -3.02 and a beta of 1.52. The company has a current ratio of 1.54, a quick ratio of 1.64 and a debt-to-equity ratio of 50.84.

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.