Overview

* New Gold ( NGD ) Q2 adjusted EPS beats analyst expectations, revenue missed estimates

* Record quarterly free cash flow of $63 mln driven by Rainy River

* Company on track to meet annual production guidance, exploration supports growth

Outlook

* Company expects increased gold production in second half of 2025

* New Gold ( NGD ) on track to meet 2025 guidance of 325,000-365,000 oz gold

* Company anticipates higher copper and gold production at New Afton

* New Gold ( NGD ) sees improved copper and gold recoveries post upgrades

Result Drivers

* RAINY RIVER PRODUCTION - Record production month at Rainy River in June, driving record quarterly free cash flow

* NEW AFTON PERFORMANCE - B3 cave at New Afton exceeded expectations, contributing to higher head grades

* MILL IMPROVEMENTS - Improved mill performance at Rainy River supports processing of higher-grade material

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss $308.40 $320.90

Revenue mln mln (1

Analyst)

Q2 Beat $0.11 $0.1 (5

Adjusted Analysts

EPS )

Q2 Beat $89.80 $80.70

Adjusted mln mln (1

Net Analyst)

Income

Q2 Net $68.60

Income mln

Q2 $111 mln

Operatin

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the gold peer group is "buy"

* Wall Street's median 12-month price target for New Gold Inc ( NGD ) is C$7.75, about 21.9% above its July 25 closing price of C$6.05

* The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)