Brokers Set Expectations for New Gold Inc.’s Q1 2023 Earnings (TSE:NGD)

New Gold Inc. (TSE:NGD – Get Rating) (ARCA:NGD) – Equities researchers at Raymond James issued their Q1 2023 earnings estimates for New Gold in a research report issued to clients and investors on Tuesday, April 19th. Raymond James analyst F. Hamed forecasts that the company will post earnings of $0.09 per share for the quarter. Raymond James also issued estimates for New Gold’s Q2 2023 earnings at $0.09 EPS, Q3 2023 earnings at $0.09 EPS, Q4 2023 earnings at $0.09 EPS and FY2023 earnings at $0.34 EPS.

NGD has been the topic of several other research reports. National Bankshares cut their price target on New Gold from C$2.75 to C$2.50 in a research note on Wednesday. BMO Capital Markets cut their price target on New Gold from C$3.50 to C$3.25 in a research note on Thursday, February 24th. Finally, Canaccord Genuity Group upgraded New Gold from a “hold” rating to a “buy” rating and increased their target price for the company from C$2.25 to C$3.00 in a research note on Friday. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$2.49.

NGD stock opened at C$2.07 on Thursday. The company has a debt-to-equity ratio of 53.49, a quick ratio of 3.30 and a current ratio of 3.97. The company has a market capitalization of C$1.41 billion and a price-to-earnings ratio of 7.93. The business’s 50 day moving average price is C$2.29 and its two-hundred day moving average price is C$2.03. New Gold has a fifty-two week low of C$1.29 and a fifty-two week high of C$2.68.

New Gold (TSE:NGD – Get Rating) (ARCA:NGD) last posted its earnings results on Wednesday, February 23rd. The company reported C$0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of C$0.05. The firm had revenue of C$255.43 million for the quarter.

About New Gold (Get Rating)

New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interests in the Rainy River gold-silver mine located in Ontario, Canada; and New Afton gold-copper mine located in British Columbia, Canada.

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