New Gold Full Year 2024 Earnings: EPS Misses Expectations

New Gold (TSE:NGD) Full Year 2024 Results

Key Financial Results

• Revenue: US$924.5m (up 18% from FY 2023).
• Net income: US$102.6m (up from US$64.5m loss in FY 2023).
• Profit margin: 11% (up from net loss in FY 2023).
• EPS: US$0.14 (up from US$0.094 loss in FY 2023).

NGD Production and Reserves

Gold

• Production: 298.3 troy koz (321.18 troy koz in FY 2023)
• Proved and probable reserves (ore): 92.49 Mt (93.92 Mt in FY 2023)
• Number of mines: 2 (2 in FY 2023)

Copper

• Production: 24,494 t (21,500 t in FY 2023)
• Proved and probable reserves (ore): 39.57 Mt (34.09 Mt in FY 2023)
• Number of mines: 1 (1 in FY 2023)

All figures shown in the chart above are for the trailing 12 month (TTM) period

New Gold EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.3%.

The primary driver behind last 12 months revenue was the Rainy River segment contributing a total revenue of US$565.8m (61% of total revenue). The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$247.5m (64% of total expenses). Explore how NGD's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Metals and Mining industry in Canada.

Performance of the Canadian Metals and Mining industry.

The company's shares are down 2.4% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 3 warning signs for New Gold you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.