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

New Gold Inc. (TSE:NGD) (ARCA:NGD) – Equities researchers at Raymond James upped their Q2 2024 earnings per share (EPS) estimates for shares of New Gold in a 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 previous forecast 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 issued its quarterly earnings results on Tuesday, February 13th. The company reported C($0.01) EPS for the quarter, missing the consensus estimate of C$0.03 by C($0.04). The business had revenue of C$271.22 million during the quarter. New Gold had a negative return on equity of 7.38% and a negative net margin of 8.20%.

A number of other analysts have also recently issued reports on NGD. Bank of America boosted their price objective on New Gold from C$1.90 to C$2.30 in a research report on Tuesday, April 9th. National Bankshares lowered their price objective on 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. Canaccord Genuity Group boosted their price objective on New Gold from C$2.75 to C$3.00 in a research report on Tuesday. Finally, National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of New Gold in a research report on Monday, April 8th.

New Gold Stock Performance

NGD opened at C$2.48 on Friday. The stock has a market cap of C$1.70 billion, a PE ratio of -20.33, a P/E/G 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. New Gold has a 1 year low of C$1.17 and a 1 year high of C$2.67. The stock’s 50 day simple moving average is C$2.11 and its 200-day simple moving average is C$1.87.

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.