Shares of New Gold Inc. (NYSE American: NGD) soared 5.85% in after-hours trading on Tuesday following the release of the company's impressive third quarter 2025 financial results, which significantly exceeded analyst expectations.
The Canadian-focused intermediate gold mining company reported adjusted earnings per share of $0.25, surpassing the analyst consensus estimate of $0.18 by 38.89%. This represents a substantial 212.5% increase from the $0.08 per share reported in the same period last year. Revenue for the quarter came in at $462.5 million, beating the analyst estimate of $417.285 million by 10.84% and marking an 83.53% jump from the $252 million reported in Q3 2024.
New Gold's strong performance was driven by record production at its Rainy River mine and continued over-performance of the B3 cave at New Afton. The company generated a record quarterly free cash flow of $205 million, with Rainy River contributing an impressive $183 million. Patrick Godin, President and CEO, commented on the results, stating, "New Gold delivered a strong third quarter, highlighted by multiple records for production and free cash flow generation. The performance from our two assets led to a record $205 million of free cash flow, a 225% quarter-over-quarter improvement over our previous record last quarter."
The company also made significant progress in strengthening its balance sheet, repaying $260 million of debt obligations during the quarter, including the full $150 million drawn on the credit facility for the New Afton transaction. With these strong results and positive outlook, New Gold remains on track to achieve its full-year guidance for both gold and copper production.
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