Scotiabank Has Negative Outlook for New Gold FY2025 Earnings

New Gold Inc. (NYSE:NGD) – Stock analysts at Scotiabank decreased their FY2025 earnings estimates for New Gold in a research report issued to clients and investors on Friday, January 23rd. Scotiabank analyst E. Winmill now forecasts that the company will post earnings of $0.48 per share for the year, down from their previous estimate of $0.51. Scotiabank has a “Outperform” rating and a $12.75 price objective on the stock. The consensus estimate for New Gold’s current full-year earnings is $0.25 per share. Scotiabank also issued estimates for New Gold’s FY2026 earnings at $0.82 EPS.

Several other research firms also recently commented on NGD. TD Securities upgraded New Gold from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Monday, December 1st. Raymond James Financial reaffirmed a “market perform” rating and set a $7.00 price target on shares of New Gold in a report on Friday, October 10th. CIBC boosted their price objective on shares of New Gold from $6.50 to $9.50 and gave the company an “outperformer” rating in a report on Friday, October 10th. Finally, National Bankshares restated an “outperform” rating on shares of New Gold in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $8.18.

New Gold Stock Down 2.7%

NGD stock opened at $12.50 on Monday. The stock has a market capitalization of $9.90 billion, a P/E ratio of 96.16 and a beta of 0.62. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. New Gold has a 1-year low of $2.60 and a 1-year high of $13.63. The business has a fifty day moving average price of $8.97 and a 200-day moving average price of $7.08.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp grew its position in shares of New Gold by 50.7% during the 3rd quarter. Van ECK Associates Corp now owns 72,796,146 shares of the company’s stock valued at $522,678,000 after acquiring an additional 24,495,669 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in New Gold by 89.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 28,812,369 shares of the company’s stock valued at $143,011,000 after purchasing an additional 13,591,642 shares during the period. American Century Companies Inc. grew its holdings in New Gold by 8.2% during the third quarter. American Century Companies Inc. now owns 16,883,444 shares of the company’s stock valued at $120,985,000 after purchasing an additional 1,272,621 shares during the period. JPMorgan Chase & Co. increased its position in New Gold by 16.5% in the third quarter. JPMorgan Chase & Co. now owns 13,357,047 shares of the company’s stock worth $95,904,000 after buying an additional 1,891,468 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of New Gold by 1,531.2% in the third quarter. Vanguard Group Inc. now owns 11,468,982 shares of the company’s stock worth $82,164,000 after buying an additional 10,765,902 shares during the period. Hedge funds and other institutional investors own 42.82% of the company’s stock.

New Gold Company Profile

New Gold Inc is a Canadian-based intermediate precious metals producer focused on the exploration, development and operation of gold and copper mining assets. The company was formed in 2008 through the merger of two exploration firms and has since grown into a multi-asset mining platform. Headquartered in Toronto, New Gold emphasizes a disciplined approach to capital allocation and operational execution, with a commitment to environmental stewardship and strong community relations.

New Gold’s principal producing assets include the New Afton Mine in British Columbia and the Rainy River Mine in northwestern Ontario.