Scotiabank Forecasts New Gold’s FY2026 Earnings (NYSE:NGD)

New Gold Inc. (NYSE:NGD) – Stock analysts at Scotiabank decreased their FY2026 earnings estimates for shares of New Gold in a research report issued to clients and investors on Sunday, April 13th. Scotiabank analyst E. Winmill now anticipates that the company will earn $0.37 per share for the year, down from their previous estimate of $0.38. Scotiabank currently has a “Sector Outperform” rating and a $4.75 price target on the stock. The consensus estimate for New Gold’s current full-year earnings is $0.25 per share.

Several other brokerages also recently weighed in on NGD. CIBC decreased their target price on New Gold from $3.60 to $3.40 and set an “outperform” rating for the company in a research note on Thursday, February 27th. New Street Research set a $3.90 target price on shares of New Gold in a research note on Wednesday, March 26th. Bank of America raised shares of New Gold from an “underperform” rating to a “buy” rating and increased their price target for the company from $2.60 to $3.90 in a report on Wednesday, March 26th. National Bank Financial upgraded shares of New Gold to a “strong-buy” rating in a report on Friday, March 21st. Finally, Raymond James set a $4.00 target price on shares of New Gold and gave the company a “market perform” rating in a research note on Friday, April 4th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $3.85.

New Gold Stock Up 1.4 %

NGD stock opened at $3.64 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. The company has a 50-day moving average of $3.13 and a two-hundred day moving average of $2.89. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 28.00 and a beta of 0.93. New Gold has a 52-week low of $1.66 and a 52-week high of $3.82.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its stake in shares of New Gold by 69.2% in the 1st quarter. SG Americas Securities LLC now owns 113,640 shares of the company’s stock valued at $422,000 after purchasing an additional 46,465 shares during the period. Pinnacle Wealth Management Group Inc. grew its position in New Gold by 11.1% in the first quarter. Pinnacle Wealth Management Group Inc. now owns 403,830 shares of the company’s stock valued at $1,498,000 after acquiring an additional 40,365 shares during the period. Gunderson Capital Management Inc. bought a new stake in New Gold in the first quarter valued at $138,000. Wellington Management Group LLP acquired a new position in New Gold during the fourth quarter worth $2,830,000. Finally, PKO Investment Management Joint Stock Co bought a new position in shares of New Gold during the fourth quarter valued at $874,000. Institutional investors and hedge funds own 42.82% of the company’s stock.

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.