New Gold FY2027 EPS Lifted by National Bank Financial

New Gold Inc. (NYSE:NGD) – National Bank Financial boosted their FY2027 earnings per share (EPS) estimates for New Gold in a research note issued on Wednesday, April 30th. National Bank Financial analyst M. Sidibe now forecasts that the company will post earnings of $0.69 per share for the year, up from their prior estimate of $0.59. National Bank Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for New Gold’s current full-year earnings is $0.25 per share.

Other equities analysts have also issued research reports about the company. Scotiabank reissued an “outperform” rating on shares of New Gold in a report on Monday, April 14th. CIBC dropped their price objective on New Gold from $3.60 to $3.40 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Raymond James set a $4.00 target price on New Gold and gave the stock a “market perform” rating in a research report on Friday, April 4th. National Bankshares reaffirmed an “outperform” rating on shares of New Gold in a report on Wednesday, April 2nd. Finally, StockNews.com cut shares of New Gold from a “buy” rating to a “hold” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3.85.

New Gold Trading Down 0.8 %

Shares of NYSE:NGD opened at $3.84 on Friday. New Gold has a 52 week low of $1.74 and a 52 week high of $3.98. The company’s 50 day moving average is $3.31 and its two-hundred day moving average is $2.96. The company has a market cap of $3.04 billion, a PE ratio of 29.54 and a beta of 0.93. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NGD. Atria Wealth Solutions Inc. acquired a new stake in shares of New Gold during the fourth quarter worth about $87,000. Russell Investments Group Ltd. grew its stake in shares of New Gold by 213.8% in the 4th quarter. Russell Investments Group Ltd. now owns 512,510 shares of the company’s stock valued at $1,273,000 after purchasing an additional 349,167 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of New Gold in the third quarter valued at approximately $941,000. Raymond James Financial Inc. acquired a new position in shares of New Gold in the fourth quarter valued at approximately $1,918,000. Finally, Renaissance Technologies LLC raised its stake in shares of New Gold by 11.6% during the fourth quarter. Renaissance Technologies LLC now owns 25,146,246 shares of the company’s stock worth $62,363,000 after purchasing an additional 2,619,782 shares during the last quarter. 42.82% of the stock is owned by hedge funds and other institutional investors.

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.