FY2025 EPS Estimates for New Gold Decreased by Raymond James

New Gold Inc. (NYSE:NGD) – Analysts at Raymond James lowered their FY2025 EPS estimates for shares of New Gold in a research note issued on Monday, October 21st. Raymond James analyst F. Hamed now expects that the company will earn $0.24 per share for the year, down from their prior 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 announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $218.20 million during the quarter. New Gold had a negative net margin of 2.53% and a positive return on equity of 5.22%.

A number of other brokerages have also recently issued reports on NGD. Scotiabank increased 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. Royal Bank of Canada increased 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. Cibc World Mkts upgraded shares of New Gold to a “strong-buy” rating in a research report on Wednesday, July 10th. CIBC increased 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. Finally, StockNews.com cut shares of New Gold from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, New Gold has a consensus rating of “Moderate Buy” and an average target price of $2.74.

New Gold Stock Down 2.8 %

Shares of New Gold stock opened at $2.93 on Thursday. The firm has a market cap of $2.31 billion, a PE ratio of -29.25 and a beta of 1.30. The company has a quick ratio of 0.98, a current ratio of 1.50 and a debt-to-equity ratio of 0.52. The stock’s 50-day moving average price is $2.78. New Gold has a 12-month low of $1.03 and a 12-month high of $3.25.

Hedge Funds Weigh In On New Gold

Institutional investors and hedge funds have recently made changes to their positions in the company. Scientech Research LLC acquired a new position in shares of New Gold in the 2nd quarter valued at $28,000. Coppell Advisory Solutions Corp. acquired a new position in shares of New Gold in the 1st quarter valued at $30,000. Allworth Financial LP grew its holdings in shares of New Gold by 941.8% in the 3rd quarter. Allworth Financial LP now owns 10,418 shares of the company’s stock valued at $30,000 after buying an additional 9,418 shares during the period. Eastern Bank acquired a new position in shares of New Gold in the 3rd quarter valued at $33,000. Finally, Rathbones Group PLC acquired a new position in New Gold in the 2nd quarter worth $36,000. Institutional investors and hedge funds own 42.82% of the company’s stock.

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.