The valuation signals are mixed. IAMGOLD has the lower P/E, while New Gold has the lower PEG. New Gold’s P/B is missing, so the available figures don’t show a clear winner across all three measures.
IAMGOLD Corporation (IMG.TO) and New Gold Inc. (NGD.TO) are both in the Materials sector and industry group, making them useful to compare. In this snapshot, IAMGOLD’s last adjusted close was C$22.19 on 2026-11-03, and its market cap was C$12.8B. New Gold’s market cap was C$9.6B, but its latest adjusted close wasn’t available. IAMGOLD’s P/E is lower, New Gold’s PEG is lower, and the P/B comparison is incomplete. Here’s what the figures show—and what they don’t.
Investor takeaway: The signals are split. IAMGOLD has the lower P/E and a reported P/B of 2.06. New Gold has the lower PEG, at 0.28, but its P/B is unavailable. These multiples don’t show which stock is the better investment. On their own, they also don’t tell you whether earnings or growth assumptions will hold, or account for company-specific risks. Both stocks have a 0.00% dividend yield and a Strong Sell consensus label in the supplied table. The listed analyst target is C$0.00 for each, so it isn’t a useful basis for estimating upside.
Stocks in this list
Live snapshots — open any name for the full quote and Wealth Awesome price forecast.
IAMGold Corporation
IMG.TO
Materials
$22.19
$12.78B
1D
-0.85%
1W
-7.43%
New Gold Inc
NGD.TO
Materials
$12.16
$9.63B
1D
+0.00%
1W
+0.00%
The valuation comparison is split
IAMGOLD’s P/E is 8.2, compared with New Gold’s 27.0. But New Gold’s PEG is lower: 0.28 versus IAMGOLD’s 12.65. IAMGOLD’s P/B is 2.06, while New Gold’s is unavailable. Taken together, the supplied multiples don’t point to a clear overall value winner.
Bull case
IAMGOLD looks cheaper on P/E, at 8.2 compared with New Gold’s 27.0. Its reported ROE TTM is 32.3%. These figures may interest investors comparing current earnings valuations, but they don’t explain the difference in P/E or show how either company’s results will change.
Bear case
IAMGOLD’s PEG of 12.65 is much higher than New Gold’s 0.28, and the available figures don’t settle which stock offers the more compelling valuation. New Gold’s P/B is missing, as is its latest adjusted close. Both companies have a 0.00% dividend yield and a Strong Sell consensus label in this snapshot.
What the valuation multiples say
IAMGOLD looks cheaper on P/E: 8.2 versus New Gold’s 27.0. The PEG comparison points the other way, with New Gold at 0.28 and IAMGOLD at 12.65. IAMGOLD’s P/B is 2.06, but the snapshot doesn’t include New Gold’s P/B. That missing figure leaves the comparison incomplete. These multiples offer a snapshot of valuation, but they don’t prove that either company is undervalued or that its earnings and growth assumptions will hold.
Company figures and snapshot limits
IAMGOLD’s market cap is C$12.8B, and its last adjusted close was C$22.19 on 2026-11-03. New Gold’s market cap is C$9.6B, but its adjusted close isn’t available. Reported ROE TTM is 32.3% for IAMGOLD and 57.9% for New Gold. Both have a 0.00% dividend yield, a Strong Sell consensus label, and a C$0.00 analyst target in the supplied table. These figures add context but don’t resolve the mixed valuation signals. See the IAMGOLD stock page and New Gold stock page for company-specific coverage.
Best next step
Keep exploring this topic
If you want to go deeper, these are the most useful follow-up pages and tools for this topic.
Broker comparison
Best trading platforms in Canada
Compare $0-commission brokers before you act on a ticker story.
Safe cash
Best GIC rates in Canada
If the story makes you want to de-risk, compare guaranteed rates next.
HISA roundup
Best high-interest savings accounts
Keep dry powder in a no-fee savings account instead of chequing.
TFSA room
Check TFSA contribution room
Shelter the next contribution before you buy.
Wealth Awesome
Timely coverage of Canadian stocks, earnings, dividends, and market movers for DIY investors. Stories are checked against exchange data and public filings.
View Full Profile →✅ Reviewed by Certified Financial Professionals
This content has been reviewed by CFA® charterholders and Certified Financial Planners (CFP®) with over a decade of experience in Canadian financial markets. All information is fact-checked against official Canadian sources and regulations.
Why these credentials matter: CFA® charterholders complete 900+ hours of rigorous study in investment analysis and ethics. CFP® professionals are held to the highest standards of financial planning competency and fiduciary duty in Canada.
⚠️ Professional Disclaimer
This content is for educational purposes only and should not be considered personalized financial advice. While our team brings professional expertise, individual circumstances vary. For personalized guidance, consult with a qualified financial advisor, tax professional, or mortgage specialist.
