New Gold Inc. Expected to Post Q2 2024 Earnings of $0.03 Per Share (TSE:NGD)

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Stock analysts at Raymond James increased their Q2 2024 EPS estimates for New Gold in a research report issued on Tuesday, April 23rd. Raymond James analyst F. Hamed now anticipates that the company will post earnings of $0.03 per share for the quarter, up from their prior estimate of ($0.01). The consensus estimate for New Gold’s current full-year earnings is $0.14 per share. Raymond James also issued estimates for New Gold’s Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.08 EPS and FY2024 earnings at $0.14 EPS.

New Gold (TSE:NGD) (ARCA:NGD) last announced its quarterly earnings results on Tuesday, February 13th. The company reported C($0.01) earnings per share 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 company had revenue of C$271.22 million during the quarter.

A number of other equities research analysts have also recently weighed in on NGD. National Bankshares reduced their price target on shares of New Gold from C$2.25 to C$2.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 20th. Canaccord Genuity Group boosted their price target on shares of New Gold from C$2.75 to C$3.00 in a research report on Tuesday. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of New Gold in a report on Monday, April 8th. Finally, Bank of America upped their target price on shares of New Gold from C$1.90 to C$2.30 in a report on Tuesday, April 9th.

New Gold Price Performance

Shares of NGD opened at C$2.48 on Friday. New Gold has a 1-year low of C$1.17 and a 1-year high of C$2.67. The stock has a market cap of C$1.70 billion, a PE ratio of -20.33, a price-to-earnings-growth ratio of -3.02 and a beta of 1.52. The company has a debt-to-equity ratio of 50.84, a current ratio of 1.54 and a quick ratio of 1.64. The firm has a fifty day moving average price of C$2.11 and a 200 day moving average price of C$1.87.

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.