FY2025 EPS Estimates for New Gold Decreased by Raymond James

New Gold Inc. (NYSE:NGD) – Raymond James decreased their FY2025 EPS estimates for shares of New Gold in a research note issued to investors on Monday, October 21st. Raymond James analyst F. Hamed now forecasts that the company will earn $0.24 per share for the year, down from their previous estimate of $0.25. The consensus estimate for New Gold’s current full-year earnings is $0.15 per share.

New Gold (NYSE:NGD) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $218.20 million for the quarter. New Gold had a negative net margin of 2.53% and a positive return on equity of 5.22%.

NGD has been the topic of several other research reports. Cibc World Mkts upgraded shares of New Gold to a “strong-buy” rating in a research note on Wednesday, July 10th. Scotiabank boosted their target price on shares of New Gold from $2.75 to $3.25 and gave the stock a “sector outperform” rating in a research report on Tuesday, September 17th. CIBC boosted their target price on shares of New Gold from $3.00 to $3.40 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. StockNews.com downgraded shares of New Gold from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their target price on shares of New Gold from $3.00 to $3.50 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, New Gold currently has an average rating of “Moderate Buy” and a consensus price target of $2.74.

New Gold Stock Performance

New Gold stock opened at $2.93 on Thursday. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -29.25 and a beta of 1.30. The company has a current ratio of 1.50, a quick ratio of 0.98 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average of $2.78. New Gold has a twelve month low of $1.03 and a twelve month high of $3.25.

Hedge Funds Weigh In On New Gold

Large investors have recently bought and sold shares of the stock. Scientech Research LLC acquired a new position in New Gold during the 2nd quarter valued at $28,000. Coppell Advisory Solutions Corp. acquired a new position in New Gold during the 1st quarter valued at $30,000. Allworth Financial LP raised its stake in New Gold by 941.8% during the 3rd quarter. Allworth Financial LP now owns 10,418 shares of the company’s stock valued at $30,000 after purchasing an additional 9,418 shares during the last quarter. Eastern Bank acquired a new position in New Gold during the 3rd quarter valued at $33,000. Finally, Rathbones Group PLC acquired a new position in shares of New Gold in the 2nd quarter valued at $36,000. 42.82% of the stock is currently owned by institutional investors and hedge funds.

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.