Shares of New Gold Inc. (NYSE: NGD) surged 5.85% in after-hours trading on Tuesday following the release of the company's third quarter 2025 financial results, which exceeded analyst expectations and showcased record production levels.
The Canadian-focused intermediate gold mining company reported adjusted earnings per share of $0.25, significantly beating the analyst consensus estimate of $0.18. This represents a substantial 212.5% increase from the $0.08 per share reported in the same quarter last year. Revenue for the quarter came in at $462.5 million, surpassing analyst projections of $417.285 million and marking an 83.53% year-over-year increase from $252 million.
New Gold's impressive financial performance was driven by record production at its Rainy River mine, which produced over 100,000 ounces of gold in the quarter. This contributed to strong cash flow from operations of $301 million and a record quarterly free cash flow of $205 million. The company also reported that it is on track to achieve its annual production guidance, with consolidated gold production expected to be in line with the 325,000 to 365,000 ounce guidance range. Additionally, New Gold made significant progress in reducing its debt, repaying $260 million of debt obligations during the quarter, further strengthening its financial position.
Comments