Scotiabank Has Bearish Forecast for New Gold FY2026 Earnings

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

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

New Gold Trading Up 1.4 %

NYSE:NGD opened at $3.64 on Wednesday. The stock has a fifty day simple moving average of $3.13 and a 200 day simple moving average of $2.89. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38. The firm 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 1-year low of $1.66 and a 1-year high of $3.82.

Hedge Funds Weigh In On New Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its position in New Gold by 0.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,471,000 shares of the company’s stock worth $3,669,000 after acquiring an additional 4,500 shares in the last quarter. Oxbow Advisors LLC lifted its stake in shares of New Gold by 1.7% in the 4th quarter. Oxbow Advisors LLC now owns 277,000 shares of the company’s stock valued at $687,000 after purchasing an additional 4,624 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in New Gold by 11.9% in the fourth quarter. Bank of New York Mellon Corp now owns 50,292 shares of the company’s stock worth $125,000 after purchasing an additional 5,331 shares in the last quarter. Captrust Financial Advisors increased its position in New Gold by 17.6% during the third quarter. Captrust Financial Advisors now owns 44,700 shares of the company’s stock worth $129,000 after buying an additional 6,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in New Gold by 0.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 910,656 shares of the company’s stock valued at $2,258,000 after buying an additional 7,367 shares in the last quarter. Institutional investors 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.