에 대한 최신 뉴스 New Gold (AMEX:NGD) 주식

New Gold

New Gold Inc participates in the development and operation of intermediate mining properties. The company has a portfolio of two primary assets: the Rainy River Mine and the New Afton Mine in Canada. The company also owns the Cerro San Pedro Mine in Mexico. The company derives revenue from the sale of gold, copper, and silver.

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금요일은 최근 몇 년 동안 금속 원자재 가격이 가장 강한 날 중 하나가 될 것으로 예상된다. 금은 1.7% 이상 상승해 온스당 2,400달러를 넘어 사상 최고치를 기록했고, 은은 6% 이상 급등해 2013년 2월 이후 최고치까지 올랐으며, 구리는 사상 최고치를 기록했다.

은 가격은 11년 만에 최고치, 금과 구리는 사상 최고점 기록: 광산 주식 급등

New Gold Inc

Source: <a href="https://www.streetwisereports.com/article/2024/06/26/copper-gold-co-s-both-rated-strong-buys-ahead-of-merger.html?utm_medium=feed">Clive Maund 06/26/2024</a>
This year, Blackwolf Copper &amp; Gold Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bwcgf#OTC">BWCGF</a>) and Treasury Metals Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tsrmf#OTC">TSRMF</a>) signed a merger deal to combine the two companies to advance the Goliath Gold Complex project (GGC project) in Ontario toward production with a strengthened leadership, balance sheet, and capital markets team with the merger expected to complete on July 3. 
The combined company&#39;s Niblack copper-gold development project in Alaska and other exploration properties also represent promising upside projects for future growth. The benefits of this merger can be summarized as the synergies produced by the companies combining their assets, expertise, and experience, as well as the resulting economies of scale as they combine forces.
The combined company weill aspire to mid-tier producer status and move in this direction through strategic acquisitions under the guidance of key investor Frank Giustra. The expected cash position of $16 million after the merger will allow the company to execute on its development and exploration plans thus realizing value and increase mineable resources at the Goliath Gold Complex in Ontario, final permits for which are in process.
After the merger, TML shareholders will own approximately 68% of the new company, which will be called NexGold, while BWCG shareholders will own approximately 32%. BWCG shareholders will swap in their shares at a ratio of 0.607% TML shares for each BWCG share held, while options and warrants will convert at the same ratio, i.e., 1-for-1.
In furtherance of the transaction, Treasury Metals is doing a financing, which has been raised to $6.4 million at a unit price of 23 cents, which is very near to what the shares are now priced at, and Frank Giustra will be taking $2 million of them which is viewed as a positive indication as is the upscaling of this financing from a minimun of $4 million to $6.4 million. TML shares are therefore regarded as attractive here being as they are near to the issue price of the financing. Following the merger, there will be a 1-for-4 consolidation or reverse split of the stock.
The following map gives an overview of the combined company&#39;s assets, and in terms of revenue-generating power, the Goliath Gold Camp is clearly the most important as it is well along the road to becoming a significant gold producer, in addition to which it holds significant potential for further exploration and expansion of the resource.
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/202462682554_1.jpg" style="height:562px; width:1000px" />
The Goliath Gold Camp is in a prolific gold bearing zone in Ontario and is surrounded by an impressive array of mines and prospects with big players involved like Kinross Gold Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kgc#NYSE">KGC</a>) and New Gold Inc. (AMEX:NGD).
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/202462682616_2.jpg" style="height:562px; width:1000px" />
The following slide gives an overview of the Goliath Gold Complex and also shows a bulleted list of the 2023 pre-feasibility study highlights.
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/202462682651_3.jpg" style="height:563px; width:1000px" />
This one provides a summary of the PFS highlights.
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/202462682710_4.jpg" style="height:563px; width:1000px" />
Turning now to the combined company&#39;s other properties over in the west, in Alaska and British Columbia, the following slide makes glaringly obvious the potential of the Hyder property in The Golden Triangle since it is very close to significant properties owned by other important mining companies such as Dolly Varden Silver Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/dollf#OTC">DOLLF</a>), Hecla Mining Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hl#NYSE">HL</a>), Newcrest Mining Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ncmgf#OTC">NCMGF</a>), and Scottie Resources Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/sctsf#OTC">SCTSF</a>), to name just some of them.
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/202462682733_5.jpg" style="height:563px; width:1000px" />
After noting the position of the company&#39;s Niblack property on the slide above, just across the border to the west in SE Alaska, the following important and interesting slide presents a profile view of it and gives a range of details of the project, including stats on its indicated and inferred resources.
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/202462682758_6.jpg" style="height:563px; width:1000px" />
The following slide shows the post-merger ownership of the stock and here we see that the significant stakeholders together own about 39.5% of it, meaning that 60.5% is in the float.
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/202462682819_7.jpg" style="height:562px; width:1000px" />
The last slide summarizes the benefits to the combined company resulting from the synergies produced by combining forces.
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/202462682837_8.jpg" style="height:563px; width:1000px" />
Now, with the merger fast approaching, we will review the stock charts for both companies.
A general point to make at the outset is that with a merger pending and imminent, both the stocks we are looking at will soon cease to exist and be replaced by a new stock for the merged entity NexGold &mdash; does that mean that the current charts have no predictive value?
No, it doesn&#39;t, because the state of the companies and, therefore, of their charts going into the merger will determine how things work out for the merged company and also its stock.
Looking at the long-term charts for both Blackwolf Copper and Gold and Treasury Metals it is easy to see why merging and combining forces is an attractive option for both companies at this time because the capitalisation of both of them has been greatly reduced by the severe bear markets that have plagued them over the past several years, which has limited their options and presumably threatened liquidity problems.
Starting with the long-term 11-year chart for Blackwolf, we see that it got as high as CA$2.80, albeit briefly, early in 2017, so that now, with it priced at just 12 cents, it has lost well over 95% of its value, and top put it mildly, this has cramped its style. However, as is a lot more clear on its shorter-term charts, Blackwolf is showing definite signs of basing at a low level in recent months.
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/202462682902_9.jpg" style="height:857px; width:679px" />
It&#39;s a similar story with Treasury Metals, although in Treasury&#39;s case it has lost a mere 90% of its value relative to its early 2017 peak and it is showing clear signs that it has been basing in recent months on its long-term 11-year chart.
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/202462682931_11.jpg" style="height:857px; width:671px" />
These two long-term charts make abundantly clear why merging is an attractive option for both companies &mdash; combining forces makes possible valuable synergies and economies of scale that will enable them, as the newly merged entity, to advance their projects as one company, especially as the outlook for the metals sector is set to vastly improve before much longer, because when the debt markets meltdown, a development that is drawing ever closer, enormous amounts of capital will flood into tangible assets with base and precious metals set to soar.
So, regardless of any near-term pause or correction, the outlook for companies such as the newly merged NexGold could scarcely be better.
Turning now to the shorter-term 1-year charts, we see that both companies&#39; stocks have been marking out base patterns in recent months with Blackwolf starting a basing process early this year and Treasury Metals starting its basing process back last October.
In Blackwolf&#39;s case, we see that the base pattern that formed in January is a hybrid Cup &amp; Handle base / Head-and-Shoulders bottom &mdash; it is both at the same time, and both are bullish. It has been rather weak in recent days with selling on rather high volume and its Accumulation line dropping, which, when comparing it to the parallel performance of Treasury Metals, suggests that Treasury Metals&#39; shareholders will come out of the merger somewhat better than Blackwolf shareholders, although both should benefit. This quite high downside volume in recent days means that we cannot rule out that it won&#39;t drop further ahead of the merger.
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/202462682958_12.jpg" style="height:857px; width:673px" />
In the case of Treasury Metals, there seems to be a more definite base pattern with a Cup and Handle base having formed from last Fall that includes an embedded Double Bottom whose first low occurred last November, with the second low being in February / March which was the low point marking the end of the long bear market.
This is a bullish-looking chart with the &quot;Handle&quot; part of the pattern allowing time for the price to consolidate and unwind its earlier overbought condition following its clear and decisive break above its 200-day moving average early in April and it has also allowed time for the 50-day moving average to make a bullish cross above the 200-day and catch up to the price, all of this setting the stock up for a breakout above the resistance shown at the upper boundary of the pattern which will mark the start of a major new bull market.
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/202462683022_13.jpg" style="height:857px; width:689px" />
So to sum up &mdash; the outlook for both stocks looks favorable on their respective charts, especially Treasury Metals, and this means that the outlook for the merged company NexGold is even better, since it is set to benefit from synergies resulting from the merger and also from economies of scale and in due course it will benefit greatly from the major sector bull market that is building.
Both Blackwolf Copper &amp; Gold and Treasury Metals are rated Strong Buys ahead of the merger, with a slight preference for Treasury Metals for the reasons discussed.
Blackwolf Copper &amp; Gold Ltd. closed for trading at CA$0.12, US$0.0826 on June 25, 2024
Treasury Metals Inc. closed for trading at CA$0.205, US$0.153 on June 25, 2024
Important Disclosures:
<ol>
<li>Blackwolf Copper &amp; Gold Ltd. and Dolly Varden Silver Corp. are billboard sponsors of Streetwise Reports and pay SWR a monthly sponsorship fee between US$4,000 and US$5,000. For this article, Blackwolf Copper &amp; Gold Ltd. has paid Street Smart, an affiliate of Streetwise Reports, US$1,500 in addition to the monthly consulting fee.</li>
<li>As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Blackwolf Copper &amp; Gold Ltd., Treasury Metals Inc., and Dolly Varden Silver Corp.</li>
<li>Author Certification and Compensation: [Clive Maund of clivemaund.com] was retained and compensated as an independent contractor by Street Smart to write this article. Mr. Maund is a technical analyst who analyzes historical trading data and he received his UK Technical Analysts&#39; Diploma in 1989. The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.</li>
<li>Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.</li>
<li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports&#39; terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services, or securities of any company.</li>
</ol>
Clivemaund.com Disclosures
The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund&#39;s opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund&#39;s opinions on the market and stocks cannot be construed as a recommendation or solicitation to buy and sell securities.

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Copper-Gold Co.s Both Rated Strong Buys Ahead of Merger

Gold futures for August delivery are currently around $2,343 per ounce, delivering a year-to-date rise of 13.5%. Gold is currently at two-week highs, buoyed by lackluster U.S. economic data that has led to expectations of interest rate cuts by the Federal Reserve this year. So far in 2024, gold has been consistently above the $2,000-per-ounce mark, surging to an unprecedented high of $2,449.50 in May. Several factors have contributed to this upward trajectory, including increased geopolitical tensions, a depreciating U.S. dollar, the potential for monetary policy easing and continuous purchasing by central banks.
The prospects for the Zacks Mining - Gold industry look optimistic, supported by the momentum in gold prices. We suggest keeping a tab on companies like Harmony Gold (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmy#NYSE">HMY</a>), Eldorado Gold (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ego#NYSE">EGO</a>), New Gold Inc. (AMEX:NGD) and Galiano Gold (AMEX:GAU), as these are well-poised for improvement, backed by their strong balance sheets, efforts to lower costs and growth initiatives.
<h3>Weak U.S Data Work in Favor of Gold</h3>
Per the&nbsp; U.S. Census Bureau&#39;s latest report, retail and foodservices sales in the United States inched up 0.1% in May 2024 from April 2024. On a year-over-year basis, sales rose 2.3%. This weaker-than-expected performance indicates that consumers are grappling with stubbornly higher levels of inflation. The market is currently pricing in about a 66% chance of a Fed rate cut in September, which has aided gold prices lately. 
The Institute for Supply Management&#39;s manufacturing index languished in contraction territory for a consecutive 16 months until February 2024. Even though it saw a slight uptick to 50.3% in March, the index slipped to the contraction territory again in April with a 49.2% reading. It further decelerated to 48.7% in May. This continued weakness in the manufacturing sector has contributed to heightened economic uncertainty, boosting investor interest in gold as a safe-haven asset and thereby hiking gold prices.
<h3>Demand &amp; Supply Imbalance to Support Prices</h3>
Central banks, particularly China, have been ramping up reserves held in gold due to currency depreciation, and geopolitical and economic risks. In 2022, central banks added 1,082 tons of gold, marking the highest annual purchase on record. This was followed by 1,037 tons of gold purchases in 2023, which was the second highest. 
According to the 70 responses to the 2024 Central Bank Gold Reserves survey, 29% of central banks have plans to increase their gold reserves in the next 12 months. This is the highest projection since the initiation of the survey in 2018. 
The use of gold in energy, healthcare and technology is rising. India and China account for around 50% of consumer gold demand. Economic strength in India is yielding wealth-driven buying. Physical demand has also been strong in China of late since the weaker yuan, volatile stock market and comparatively low deposit rates have led investors to explore alternatives for their savings. 
Meanwhile, depleting resources, declining supply in old mines and the lack of new mines have been inherent threats to the industry. Therefore, this will eventually create a demand-supply imbalance, which is likely to drive gold prices.
<h3>4 Gold Stocks to Buy</h3>
We have handpicked four gold-mining stocks, which currently sport a Zacks Rank #1 (Strong Buy) or #2 (Buy) and have solid growth potential. 
The chart below shows the price performances of these stocks year to date. These stocks have outperformed the industry as well as the broader Basic Materials sector and the S&amp;P 500.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b8/69232.jpg?v=1032028614" /> 
Image Source: Zacks Investment Research
New Gold: In the first quarter of 2024, the company&#39;s New Afton mine delivered a strong performance, producing 18,179 ounces of gold and 13.3 million pounds of copper. Both gold and copper productions were in line with the company&#39;s guidance. The Rainy River mine produced 52,719 ounces of gold. At Rainy River, the underground Main Zone is on target to produce its first ore in the fourth quarter of 2024. The company is on track to meet the 2024 consolidated production forecast of 310,000-350,000 ounces of gold and 50-60 million pounds of copper at all-in-sustaining costs of $1,240-$1,340 per gold ounce sold. Rainy River gold production is likely to expand dramatically over the next three years as underground mill feed increases. 
NGD recently signed an agreement relating to its strategic partnership with the Ontario Teachers&#39; Pension Plan for the New Afton Mine that will increase its effective free cash flow interest in the mine to 80.1%. This transaction is projected to result in a significant increase in attributable life-of-mine cash flow, while keeping New Gold&#39;s balance sheet strong and financially liquid. Continued focus on operational discipline and investment in growth projects will aid the company. 
The Zacks Consensus Estimate for the Toronto, Canada-based company&#39;s 2024 earnings has moved up 50% over the past 60 days. The consensus estimate indicates year-over-year growth of 71%. NGD currently sports a Zacks Rank #1. 
Eldorado Gold: The company produced 117,111 ounces of gold in the first quarter of 2024, up 5% year over year, reflecting higher gold production at most sites, notably at Lamaque (up 12%) and Olympias (up 14%). EGO expects production between 505,000 to 555,000 ounces of gold in 2024. The mid-point of the range suggests a 9% year-over-year increase. Project costs and schedule are on track for its development project, Skouries, with commercial production expected to commence at the end of 2025. 
March 2024 marked five years since the start of commercial production at the Lamaque Complex in Quebec. The complex has produced 848,014 ounces of gold, which exceeded EGO&#39;s expectations by 32% compared with the initial pre-feasibility study of 644,100 ounces. With the inaugural reserve expected at Ormaque later this year, the prospects of the Lamaque Complex are solid. 
Eldorado Gold is based in Vancouver, Canada. The Zacks Consensus Estimate for the company&#39;s fiscal 2024 earnings has moved up 49% over the past 60 days. The estimate indicates year-over-year growth of 91.2%. The company has an estimated long-term earnings growth of 50.8%. EGO has a trailing four-quarter earnings surprise of 430.7%, on average. The company currently carries a Zacks Rank #2. 
Galiano Gold: In March 2024, GAU acquired Gold Fields Group&#39;s 45% interest in the Asanko Gold Mine. With this move, Galiano Gold established itself as a growing gold producer with solid financial strength, owning and operating one of the largest gold mines in West Africa. The mine produced 30,386 ounces of gold in the first quarter of 2024. Output is expected to increase in the second half of 2024 after the completion of waste stripping at the Abore deposit, and the company expects to achieve 2024 production guidance of 140,000-160,000 ounces. 
GAU recently announced an upgrade to the Mineral Resources at Abore by 38%. The company&#39;s planned exploration programs for 2024 include drilling at Midras South to advance the deposit toward a potential maiden Mineral Reserve estimate, infill drilling at Adubiaso, early-stage drill testing at Target 3 and extension drilling at Gyagyatreso. A property-wide reconnaissance program has also been designed to identify new target areas of interest. 
Headquartered in Vancouver, Canada, Galiano Gold has an expected earnings growth of 117% for the current year. The Zacks Consensus Estimate for the company&#39;s fiscal 2024 earnings has moved up 37% over the past 60 days. GAU currently carries a Zacks Rank #2. 
Harmony Gold: The company produced 1,182,405 ounces of gold in the first nine months of fiscal 2024, which marked a 10% year-over-year improvement. With this performance, the company raised its production target to 1.55 million ounces from the prior expectation of 1.38-1.48 million ounces of gold in fiscal 2024. The operating free cash flow surged 171% year over year to $468 million in the period, driven by operational excellence and higher recovered grades. The company&#39;s all-in sustaining costs declined 2% year over year to $1,457 per ounce in the period. 
HMY continues to move down the industry cost curve. The company&#39;s efforts to reduce its debt levels appear encouraging and its flexible balance sheet continues to support its investments in its solid growth pipeline. 
The Zacks Consensus Estimate for earnings for the Randfontein, South Africa-based company&#39;s fiscal 2024 has been revised upward by 5.6% over the past 60 days. The consensus mark indicates year-over-year growth of 109%. HMY currently carries a Zacks Rank #2.
<a href="https://www.zacks.com/stock/news/2291035/gold-prices-increase-13-5-ytd-4-market-outperformers?cid=CS-BENZ-FT-analyst_blog|investment_ideas-2291035">To read this article on Zacks.com click here.</a>

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Gold Prices Increase 13.5% YTD: 4 Market Outperformers

Correction: CIBC analyst Anita Soni upgrades New Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NGD#AMEX">NGD</a>) from Neutral to Outperformer and raises the price target from $2.1 to $3. Rating change updated

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Correction: CIBC Upgrades New Gold to Outperformer, Raises Price Target to $3. Rating change updated

BMO Capital analyst Brian Quast maintains New Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NGD#AMEX">NGD</a>) with a Outperform and raises the price target from $3 to $3.5.

BMO Capital Maintains Outperform on New Gold, Raises Price Target to $3.5

Scotiabank analyst Eric Winmill maintains New Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NGD#AMEX">NGD</a>) with a Sector Outperform and raises the price target from $2.25 to $2.5.

Scotiabank Maintains Sector Outperform on New Gold, Raises Price Target to $2.5

Scotiabank analyst Eric Winmill upgrades New Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NGD#AMEX">NGD</a>) from Sector Perform to Sector Outperform and raises the price target from $2 to $2.25.

Scotiabank Upgrades New Gold to Sector Outperform, Raises Price Target to $2.25

Friday is shaping up to be one of the strongest days for metal commodities in recent years. Gold climbed over 1.7% toward a record-high close above $2,400 per ounce, silver surged more than 6% to its highest level since February 2013, and copper hit <a href="https://www.benzinga.com/topic/mining">an all-time high.</a>
What Happened: In a week marked by diminishing inflation fears, the case for Federal Reserve rate cuts strengthened. Additionally, news of a broad-based Chinese stimulus to support the struggling real estate sector sent metal commodities skyrocketing. Beijing announced measures such as reducing down payments for homebuyers and a state-financed package to convert unsold<a href="https://www.benzinga.com/markets/asia/24/05/38895805/china-goes-all-in-as-beijing-vows-to-buy-unsold-properties-chinese-stocks-rally-copper-hits-all-time"> properties into social housing.</a>
Copper, extremely sensitive to China&#8217;s economic health as the country is the top purchaser of the red metal, rallied 4% to above $5 a pound. This surge marked a fresh weekly all-time high and its strongest day since November 2022.
Precious metals like silver and gold positively reacted to both interest-rate and Chinese-related developments. Silver spiked above $30, breaking out of a triple-top resistance pattern.
Chart: Copper Hits All-Time High
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17151239/image-75-1024x495.png" alt="" class="wp-image-344275" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17151239/image-75-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17151239/image-75-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17151239/image-75-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17151239/image-75-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17151239/image-75.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Expert Insights on Metal Commodities</h3>
According to Otavio Costa, macro strategist at Crescat Capital, central banks are &#8220;acquiring gold to enhance the quality of their international reserves and thereby strengthen the credibility of their monetary systems.&#8221; 
He highlighted that unlike many investors and traders, central banks have a long-term perspective, meaning that &#8220;the accumulation of gold by these institutions is just beginning.&#8221;
According to analysts at Goldman Sachs, copper remains a focus amid an ongoing short squeeze that has sent futures to record highs. The investment bank maintains a positive outlook on copper, citing the market&#8217;s structural deficit and forecasting a 20% increase from current levels.
Jeff Currie, former Goldman Sachs commodities strategist and now chief strategy officer of energy pathways at Carlyle Group, stated in a Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-05-17/jeff-currie-says-copper-is-the-best-trade-he-s-seen-in-his-career?sref=TBDibEcD">interview </a>that the red mental still has more room to run, emphasizing copper&#8217;s importance in powering electric vehicles, updated grids and AI data centers.
Chart: Silver Notches Best-Performing Week Since August 2020
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17152107/image-76-1024x495.png" alt="" class="wp-image-344292" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17152107/image-76-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17152107/image-76-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17152107/image-76-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17152107/image-76-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/17152107/image-76.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Mining Stocks Surge</h3>
The rally in metal commodities fueled broad-based gains on mining stocks. 
<ul>
<li>The SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>) rose 1.8% reaching April 2022 highs. Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>) and Hecla Mining Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HL#NYSE">HL</a>) were the top gainers among miners, both up by 11%. </li>
</ul>
<ul>
<li>The Global X Copper Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>) skyrocketed 4.3%, hitting a record high since the fund&#8217;s inception in 2010. Taseko Mines Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGB#NYSE">TGB</a>), Ero Copper Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ERO#NYSE">ERO</a>), and First Quantum Minerals Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FM#NYSE">FM</a>) were the fund&#8217;s top performers, up 7.3%, 6.8% and 6.6%, respectively</li>
</ul>
<ul>
<li>The Global X Silver Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIL#NYSE">SIL</a>) rose 5%, reaching April 2022 highs. Besides Coeur Mining and Hecla Mining Company, Endeavour Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXK#NYSE">EXK</a>) also performed strongly, up 10%. </li>
</ul>
<ul>
<li>The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) surged 3%, also reaching April 2022 highs, with New Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGD#NYSE">NGD</a>) topping the performance among gold miners, up nearly 12%.</li>
</ul>
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38894659/bank-of-americas-contrarian-guru-unveils-best-portfolio-hedge-against-hard-landing-">Bank Of America&#8217;s Contrarian Guru Unveils Best Portfolio Hedge Against Hard Landing: &#8216;No One Is Long&#8217;</a>
Photo: Shutterstock

Silver Rockets To 11-Year Highs, Copper Hits Record Peak, Gold Approaches Historic Close: Mining Stocks' Wild Ride

(All dollar figures are in US dollars unless otherwise indicated) &nbsp;
TORONTO, May 13, 2024 (GLOBE NEWSWIRE) -- New Gold Inc. ("New Gold" or the "Company") (NYSE:<a href="https://www.benzinga.com/stock/NGD#NYSE">NGD</a>) is pleased to announce that it has entered into an agreement relating to its strategic partnership with Ontario Teachers' Pension Plan ("Ontario Teachers'") at the New Afton Mine ("New Afton"), whereby New Gold will increase its effective free cash flow interest in New Afton to 80.1% (the "Transaction").
On closing of the Transaction, Ontario Teachers' free cash flow interest in New Afton will be reduced from 46.0% to 19.9% in exchange for an upfront cash payment of $255 million from New Gold. New Gold will fund the cash payment with cash on hand, borrowings from its existing revolving credit facility and net proceeds from a concurrent bought deal equity financing of common shares of New Gold ("Common Shares") for approximately $150 million.

Financing

New Gold Increases Exposure In New Afton Copper/Gold Mine To 80.01%, Ontario Teachers' Free Cash Flow Interest In New Afton Will Be Reduced From 46.0% To 19.9% In Exchange For An Upfront Cash Payment Of $255M From New Gold; Launches $150M Bought Deal Financing

New Gold Inc. Files Mixed Securities Shelf

New Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NGD#AMEX">NGD</a>) reported quarterly earnings of $0.02 per share which beat the analyst consensus estimate of undefined by Infinity percent. This is a 33.33 percent decrease over earnings of $0.03 per share from the same period last year. The company reported quarterly sales of $192.100 million which beat the analyst consensus estimate of $190.920 million by 0.62 percent. This is a 4.71 percent decrease over sales of $201.600 million the same period last year.

Earnings Beats

New Gold Q1 2024 Adj EPS $0.02 Beats undefined Estimate, Sales $192.100M Beat $190.920M Estimate

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Shares of precious metals stocks are trading lower amid a pullback in the price of gold and silver.

Scotiabank analyst Ovais Habib maintains New Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NGD#AMEX">NGD</a>) with a Sector Perform and raises the price target from $1.65 to $2.

Scotiabank Maintains Sector Perform on New Gold, Raises Price Target to $2

March 2024 has been a golden month for gold mining stocks, marking their best performance in a year. 
The catalyst? A mix of anticipation for lower interest rates and robust demand from central banks sent gold prices — and consequently, <a href="https://www.benzinga.com/topic/mining">gold mining stocks — soaring. </a>
The bullion found support at $2,160 per ounce, hitting all-time highs at $2,222 last week following a dovish Fed meeting, before staging a temporary respite. 
The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), a key barometer for the gold mining industry, saw a robust rally of over 13% this month, setting it on course for its strongest monthly gain since March 2023, when it rose by 17%.
This month, the gold mining sector has outshone all other U.S. industries, surpassing even the performance of semiconductor stocks, as measured by the VanEck Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>), and energy services, as indicated by the VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>).
<h1 class="wp-block-heading">Chart: Gold Miner ETF Eyes The Strongest Monthly Performance In A Year</h1>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/26114809/image-57-1024x495.png" alt="" class="wp-image-265902" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/26114809/image-57-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/26114809/image-57-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/26114809/image-57-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/26114809/image-57-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/26114809/image-57.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Also Read: <a href="https://www.benzinga.com/money/best-gold-stocks">Best Gold Stocks Right Now</a>
<h1 class="wp-block-heading">JP Morgan Sees A Potential &#8216;Golden Era&#8217; For Gold Prices</h1>
Stephen Jury, managing director at J.P. Morgan Private Bank, outlined a constructive view on the precious metal&#8217;s future, in his latest investment strategy report. 
Jury pointed to the Federal Reserve&#8217;s anticipated interest rate cuts starting June 2024 as a key driver for gold&#8217;s appreciation in the next 12 months. 
He noted, &#8220;In our opinion, this should set the stage for gold appreciation.&#8221; 
Jury also highlighted the role of geopolitical tensions and the upcoming global elections in 2024, involving countries that represent half of the world&#8217;s population, in driving central bank demand for gold.
<h1 class="wp-block-heading">Central Banks And Retail Investors: A Bullish Momentum</h1>
With more than 60 countries heading to the polls in 2024 and ongoing regional conflicts, central banks are expected to continue diversifying their reserves into gold, potentially less sensitive to price changes. 
&#8220;A persistent theme of geopolitical tension should continue to drive Central Bank reserve diversification,&#8221; Jury wrote, adding that he expected &#8220;more central banks to add to their buying momentum this year&#8221;
Additionally, Jury anticipated a return of retail ETF investors to the gold market as yields fall, marking an under-owned and under-appreciated investment ripe for appreciation. JP Morgan&#8217;s forecast for gold prices by year-end 2024 stands at $2,250-2,350.
Read Now: <a href="https://www.benzinga.com/markets/equities/24/03/37936320/larry-fink-warns-of-us-retirement-crisis-in-blackrocks-annual-letter-you-are-on-your-own">Larry Fink Warns Of US Retirement Crisis In BlackRock&#8217;s Annual Letter: &#8216;You Are On Your Own&#8217;</a>

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Gold Mining Stocks Eye Best Month In A Year As 'Golden Era' For The Precious Metal Looms

Source: <a href="https://www.streetwisereports.com/article/2024/03/14/navigating-a-golden-opportunity-with-one-experts-top-picks.html?utm_medium=feed">Malcolm Shaw 03/15/2024</a>
Malcolm Shaw of Hydra Capital Partners shares some of his own investment ideas in the metals and energy markets. He also shares a myriad of stocks that he owns and follows. He presents these ideas as a jumping-off point for those looking to kick-start their own due diligence in the commodity sector.
The gold sector has taken center stage this month, with prices soaring to unprecedented heights.
Despite the impressive rally, many investors remain skeptical, having been burned by false starts in the past. However, as central banks continue to accumulate gold and the U.S. dollar weakens, the precious metal&#39;s prospects are looking brighter than ever.
<h2 class="whitespace-pre-wrap">Gold&#39;s Breakout and Investor Sentiment</h2>
Gold&#39;s recent surge past the $2,080 resistance level has caught many investors off guard. Most have little to no exposure to the sector and are unfamiliar with the relevant tickers and valuations.
This lack of participation means that the gold rally may still have significant room to run as disbelief slowly fades and investors start to pile in, similar to the energy sector&#39;s recovery in late 2020/early 2021.
Despite the recent rally, many gold stocks are trading at historically attractive valuations based on price-to-net asset value (P/NAV) multiples, free cash flow yields, and cash flow multiples.
Even major players like Newmont Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nem#NYSE">NEM</a>) have yet to show signs of froth, trading near their 5-year lows. These compelling fundamentals, combined with the fact that gold has never been this high, suggest that the sector may be poised for a sustained rally.
<h2 class="whitespace-pre-wrap">Other Commodities To Watch</h2>
While gold steals the spotlight, other commodities are also showing promise. Silver seems to be riding along with gold, though a lot of &quot;silver bugs&quot; think it may even outperform the yellow metal.
Copper, a key player in the energy transition, is now through the critical $4.00/pound level. A weakening U.S. dollar and healthy supply-demand fundamentals bode well for the red metal. Zinc is following copper.
Oil and natural gas stocks remain cheap relative to other sectors, while uranium&#39;s structural supply-demand picture remains bullish.
Lithium, on the other hand, has been weak and may be vulnerable to tax-loss selling later this year, and Nickel is still seeing overhang from new Indonesian supply.
<h2 class="whitespace-pre-wrap">Be Right and Sit Tight</h2>
As a seasoned commodities investor, I prefer to keep my approach straightforward. Examining the TSX Venture index&#39;s long-term chart reveals the potential for significant upside if we are indeed witnessing the beginning of a synchronized commodity upswing. Should the current momentum persist for a couple/few more weeks, the Venture index may experience a &quot;golden cross,&quot; where the 50-day moving average surpasses the 200-day moving average &mdash; which would be a promising technical indicator for those looking for the next significant advance in the commodity sector.
While I remain cautiously optimistic, the mere act of penning this article could suggest that the market may need to consolidate before continuing its ascent. It&#39;s important to note that prior to this emerging trend, commodity stocks have endured a prolonged period of lackluster performance. However, given the current market conditions, I believe that a comprehensive commodity rally could have staying power.
I must admit that I&#39;m more optimistic now than I have been for quite some time, and I can only hope that sharing these thoughts doesn&#39;t inadvertently hinder the market&#39;s progress. In the sections that follow, I provide a few thoughts on both familiar and new investment ideas while maintaining a patient and steadfast approach, adhering to the mantra of &quot;be right and sit tight.&quot;
<h2 class="whitespace-pre-wrap">Energy and Copper Recommendations</h2>
Tenaz Energy Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/atuuf#OTC">ATUUF</a>):
Tenaz is a favorite of mine. With a disciplined M&amp;A strategy and a lean, experienced management team, Tenaz Energy is well-positioned to capitalize on the current market environment whereby larger energy companies are looking to rationalize their portfolios while finding credible, competent teams to which they can divest their non-core assets.
The company&#39;s low share count and sub-$100 million market cap provide ample room for growth as it executes on its business plan. Given the company&#39;s M&amp;A focus, Tenaz&#39;s growth is inevitable. Meanwhile, Tenaz is among the cheapest energy stocks out there, trading at one of the lowest EV/CF (enterprise value divided by annual cash flow) multiples in the sector (around 1.5x, versus peers at 2.5-4x). I believe the company represents one of the best risk-reward situations that I&#39;ve seen in my career. Management is first-class and I believe patience is the only requirement here as this proven team drives the company towards its production goal of 50,000-100,000 barrels of oil equivalent per day through targeted and thoughtful acquisitions. Patience is a rare commodity, but I believe that those who can employ it with respect to Tenaz will be well-rewarded in time.
TAG Oil Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/taoif#OTC">TAOIF</a>):
Tag Oil&#39;s drilling campaign in Egypt, targeting the Abu Roash F formation, has generated significant interest among specialist investors, but drilling delays have meant that the stock is in a holding pattern as the market waits for test results from its first horizontal well. It&#39;s worth noting that the Abu Roash F formation is an oil source rock that is analogous to the prolific Eagle Ford play in the southern United States.
With the potential for 60-80+ locations in the company&#39;s Badr concession area, the company is poised for substantial growth in the coming years should its pending well test show commercial rates. Anything over 1,000 barrels of oil per day as an initial production rate should be viewed as a success. With flow test results expected in early April, Tag Oil represents a timely and interesting speculation
New Stratus Energy Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rdrif#OTC">RDRIF</a>):
Led by the charismatic (and well-connected) Jose Francisco Arata, New Stratus Energy is positioning itself as the next Latin American energy champion.
The company&#39;s current Venezuelan deal serves as a stepping stone for future expansion in the region, with plans to add projects in one or two additional jurisdictions. New Stratus is one to watch for those interested in the Latin American energy scene.
Condor Energies Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/cnprf#OTC">CNPRF</a>):
Condor Energies offers investors a unique opportunity to gain exposure to the energy markets in Central Asia.
The company&#39;s recently awarded gas field management contract in Uzbekistan and its LNG initiatives in Kazakhstan showcase its expertise in navigating niche markets.
In Uzbekistan the company is in the process of optimizing/revitalizing eight existing gas-condensate fields. More details on the assets will follow late this summer, but my impression is that there is some very low-hanging fruit there. In Kazakhstan, the company is looking to capitalize on the arbitrage between diesel prices (high) and natural gas prices (low) in the country. With a natural gas supply contract recently granted to the company by the Kazakh government, Condor is expected to begin construction of modular LNG plants to serve local markets later this year.
Valeura Energy Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vlerf#OTC">VLERF</a>):
Trading at roughly 50% of its proven+probable net present value, Valeura Energy presents a compelling value proposition for investors.
The company&#39;s recent reserves report demonstrates the success of its field-life extension strategy, while its debt-free balance sheet and strong cash position (US$150 million) provide a solid foundation for future growth.
Hercules Silver (OTC: <a class="ticker" href="https://www.benzinga.com/stock/badef#OTC">BADEF</a>):
Don&#39;t let the name confuse you. Backed by a substantial recent investment from Barrick (~$23 million late in 2023), Hercules Silver is an exciting emerging copper exploration story in Idaho. With a large copper-porphyry system recently identified underneath previously-known silver mineralization, the company is now focusing on drilling for grade and tonnage in the copper zone.
Positive drill results could quickly put Hercules Silver on the radar of investors seeking exposure to the copper market. The company is expected to start a substantial drill program this spring.
Critical Elements Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/crecf#OTC">CRECF</a>): Despite the frustrating delays in permitting and securing an off-take agreement, Critical Elements&#39; lithium project remains promising on paper.
While the stock has been a disappointment thus far, the underlying economic fundamentals suggest that the company could still deliver value to patient investors.
Libero Copper and Gold Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/lbcmd#OTC">LBCMD</a>):
The involvement of high-profile resource investor Frank Giustra has recently brought Libero Copper into the spotlight.
With a massive porphyry deposit (&gt;600 million tonnes) already identified at its Mocoa project in Colombia and the potential for further growth, Libero Copper could be a multi-bagger for investors willing to tolerate some political risk. The company is expected to restart drilling on the project in Q2 2024.
Sun Peak Metals Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/sunpf#OTC">SUNPF</a>):
For investors with a higher risk tolerance, frontier markets can sometimes offer the potential for outsized returns. Sun Peak Metals, with its Shire project in Ethiopia, is one such opportunity.
The company&#39;s exploration targets bear a striking resemblance to the Bisha VMS deposit, which was successfully developed by Nevsun Resources and later sold to Zijin Mining for $1.86 billion. Drilling is expected to begin on Sun Peak&#39;s Shire project later this year.
Atex Resources Inc.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/ecrtf#OTC">ECRTF</a>):
The company is exploring a large-scale copper porphyry project in Chile. Backed by Pierre Lassonde, Atex has already identified a significant resource and is now focusing on expanding the high-grade core of the deposit, with some key holes pending at the time of writing of this article.
If successful, Atex could quickly become a prime target for major copper producers and investors alike.
<h2 class="whitespace-pre-wrap">Gold Ideas</h2>
Since I think enough has been said on gold lately for those who have been paying attention, I won&#39;t take up too much time giving details. As a friend of mine likes to joke, &quot;Just the tickers please&hellip;&quot; Here is a list of some of the names that I own and/or follow in the sector, in no particular order, that I think are either cheap, or intriguing, or both.
<ol>
<li>Kinross Gold Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kgc#NYSE">KGC</a>)</li>
<li>Falco Resources Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/fprgf#OTC">FPRGF</a>)</li>
<li>OceanaGold Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ocanf#OTC">OCANF</a>)</li>
<li>New Gold Inc. (AMEX:NGD)</li>
<li>Aya Gold and Silver Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ayasf#OTC">AYASF</a>)</li>
<li>Goliath Resources Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gotrf#OTC">GOTRF</a>)</li>
<li>Ascot Resources Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/aotvf#OTC">AOTVF</a>)</li>
<li>Karora Resources (OTC: <a class="ticker" href="https://www.benzinga.com/stock/krrgf#OTC">KRRGF</a>)</li>
<li>Osisko Mining Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/obnnf#OTC">OBNNF</a>)</li>
<li>Rupert Resources Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ruprf#OTC">RUPRF</a>)</li>
<li>Red Pine Exploration Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rdexf#OTC">RDEXF</a>)</li>
<li>Canadian Gold Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/strrf#OTC">STRRF</a>)</li>
<li>Radius Gold Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rduff#OTC">RDUFF</a>)</li>
</ol>
<h2>One Uranium Recommendation</h2>
While I don&#39;t have a lot new to add when it comes to uranium, there is one stock that has caught my attention: CanAlaska Uranium Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/cvvuf#OTC">CVVUF</a>)
CanAlaska recently announced a remarkable drill hole intercept at its West McArthur joint venture project with Cameco, where CVV holds an 83.35% stake. The drill hole encountered an impressive 16.8 meters of mineralization grading 13.75% eU3O8, a result that firmly places CVV on the radar of junior uranium exploration companies with noteworthy discoveries.
Although the reported grades are based on gamma probe readings (hence the &quot;e&quot; prefix before U3O8), the company expects to receive chemical assay results within the next six to eight weeks.
In the interim, CVV is likely to conduct additional drilling around this high-grade intercept, so investors should keep a close eye on further developments. Such exceptional grades typically indicate a long-lived mineralizing system, which often suggests the potential for significant scale. This discovery has undoubtedly piqued the interest of the mining industry and investors alike.
Important Disclosures:
<ol>
<li>Tag Oil Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of New Stratus Energy Inc. and Libero Copper and Gold Corp.</li>
<li>Malcolm Shaw: I, or members of my immediate household or family, own securities of: All. I determined which companies would be included in this article based on my research and understanding of the sector.</li>
<li>Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.</li>
<li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports&#39; terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.</li>
</ol>
For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a>
Disclosures for Hydra Capital
This is not investment advice, nor is it a recommendation to buy or sell shares in the company/companies mentioned.
The information contained herein is accurate to the best of the author&#39;s knowledge, but the material and interpretations contained herein should be independently verified by any party using this information as part of any research, editorial, or decision making process. Any views expressed here represent the author&#39;s opinion only, and as such readers should do their own research and come to their own conclusions if they are using the opinions contained herein as part of any larger due diligence process. The author may have long or short positions in the companies mentioned and may be buying or selling in the market depending on which way the wind is blowing at any given moment. Opinions are subject to change without notice. Prospective resources, predictions, comparisons, financial projections, and extrapolated metrics are, by their nature, subjective and interpretation dependent. The topics covered are highly speculative and involve a high degree of uncertainty and risk. Speculative companies can and do go to zero. By using this site, you agree that the author(s) and Hydra Capital is/are not responsible for any damages incurred by the use of the presented materials. Anyone reading these blog posts should know that they are the author&#39;s thoughts and opinions, which are not to be confused with or construed as research reports.<img src="https://www.google-analytics.com/collect?v=1&amp;tid=UA-2133444-8&amp;cid=555&amp;t=event&amp;ec=newsfeed&amp;ea=open&amp;dp=26573" /><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=26573" style="height:0px; width:0px" />

Small Cap

ASCOT RESOURCES LTD by Ascot Resources Ltd.

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Navigating a Golden Opportunity With One Experts Top Picks

Production is expected to strengthen in the second half of the year, with the second half of 2024 expected to represent approximately&nbsp;60%&nbsp;of annual production as waste stripping at&nbsp;Rainy River&nbsp;is sequenced in the first half of the year. 2024 copper production is expected to be 50 to 60 million pounds, approximately&nbsp;16%&nbsp;higher than 2023 driven by increased contribution from C-Zone at New Afton.

Guidance

New Gold Expects 2024 Consolidated Gold Production To Be 310,000-350,000 Ounces Vs. 321,178 In 2023

New Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NGD#AMEX">NGD</a>) reported quarterly losses of $(0.01) per share which missed the analyst consensus estimate of $0.02 by 150 percent. The company reported quarterly sales of $199.20 million which beat the analyst consensus estimate of $191.07 million by 4.26 percent. This is a 22.36 percent increase over sales of $162.80 million the same period last year.

Earnings Misses

New Gold Q4 2023 Adj EPS $(0.01) Misses $0.02 Estimate, Sales $199.20M Beat $191.07M Estimate

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Earnings Scheduled For February 13, 2024

New Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NGD#AMEX">NGD</a>) is set to give its latest quarterly earnings report on Tuesday, 2024-02-13. Here's what investors need to know before the announcement.
Analysts estimate that New Gold will report an earnings per share (EPS) of $0.02. 
New Gold bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company missed EPS by $0.00, which was followed by a 4.67% increase in the share price the next day.
Here's a look at New Gold's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.03</td>
<td>0.02</td>
<td>0.01</td>
<td>0</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.03</td>
<td>0.02</td>
<td>0.03</td>
<td>-0.01</td>
</tr>
<tr>
<td>Price Change %</td>
<td>4.67%</td>
<td>-12.1%</td>
<td>0.0%</td>
<td>-2.77%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1707771662_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of New Gold were trading at $1.19 as of February 09. Over the last 52-week period, shares are up 26.14%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<a href="https://www.benzinga.com/quote/NGD/earnings">To track all earnings releases for New Gold visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

New Gold's Earnings: A Preview

New Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NGD#AMEX">NGD</a>) is set to give its latest quarterly earnings report on Tuesday, 2024-02-13. Here's what investors need to know before the announcement.
Analysts estimate that New Gold will report an earnings per share (EPS) of $0.02. 
New Gold bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company missed EPS by $0.00, which was followed by a 4.67% increase in the share price the next day.
Here's a look at New Gold's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.03</td>
<td>0.02</td>
<td>0.01</td>
<td>0</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.03</td>
<td>0.02</td>
<td>0.03</td>
<td>-0.01</td>
</tr>
<tr>
<td>Price Change %</td>
<td>4.67%</td>
<td>-12.1%</td>
<td>0.0%</td>
<td>-2.77%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1707771656_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of New Gold were trading at $1.19 as of February 09. Over the last 52-week period, shares are up 26.14%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/NGD/earnings">To track all earnings releases for New Gold visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

New Gold's Earnings Outlook

New Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NGD#AMEX">NGD</a>) unveiled a three-year <a href="https://newgold.com/news-events/news/news-details/2024/NEW-GOLD-OUTLINES-SIGNIFICANT-FREE-CASH-FLOW-GENERATION-PROFILE-SUPPORTED-BY-IMPROVING-PRODUCTION-AND-DECREASING-COSTS-OVER-THE-NEXT-THREE-YEARS/default.aspx">plan</a> to increase <a href="https://www.benzinga.com/topic/mining">gold and copper production</a>. 
The Toronto-based company set a goal of achieving 35% growth in gold output and 60% growth in copper production by 2026. The management aims to achieve this through higher output at its current mines and by completing growth projects.
&#8220;The company has clearly defined the path forward to significant free cash flow generation,&#8221; New Gold CEO Patrick Godin said. &#8220;This is underpinned by the work completed in recent years to prepare our operations for meaningful production and cash flow increases, as costs and capital spend decrease.&#8221;
Now read: <a href="https://www.benzinga.com/news/24/02/37035449/canada-nickel-plans-a-1-billion-processing-plant-in-ontario">Canada Nickel Plans A $1 Billion Processing Plant in Ontario</a>
The company&#8217;s strategy involves boosting gold production to between 410,000 and 460,000 ounces. For copper, it looks to produce between 71 million and 81 million pounds by 2026. 
Besides higher production levels, the management expects capital reductions and lower operating costs, leading to a total cost decrease of around 7%. This scenario would place costs between $725 and $825 per ounce.
New Gold anticipates the first results of its three-year plan to manifest in 2024, with consolidated gold production reaching 310,000 to 350,000 ounces and copper production ranging between 50 million and 60 million pounds. These production enhancements should positively impact the company&#8217;s balance sheet, driving significant free cash flow.
&#8220;At current commodity prices, New Gold is expected to generate approximately $75 million in free cash flow in the second half of the year,&#8221; Godin stated. Per the latest financials, the company has $185.9 million in cash and $395.7 million in debt.
Despite past challenges, particularly at the Rainy River gold mine in Ontario and the New Afton copper-gold operation in British Columbia, New Gold is confident in its ability to overcome obstacles and achieve its production targets. Transitioning mining operations underground at Rainy River and ramping production at New Afton&#8217;s C-Zone are key initiatives driving future growth.
As the world moves toward <a href="https://www.benzinga.com/markets/commodities/23/12/36259547/copper-shortage-first-quantums-cobre-panama-mine-shuts-down-threatening-supply-balance">potential critical commodity shortages</a>, Canada steps into the spotlight as a mineral-rich market with a stable geopolitical environment. Its policymakers offer a <a href="https://www.benzinga.com/news/24/01/36594874/canada-wants-to-increase-critical-mineral-production-but-chinas-involvement-raises-concerns">lot of support</a> to the sector, while domestic executives keep advocating for recognizing gold and silver as critical minerals.
Robert Quartermain, a former executive chairman of Pretium Resources, <a href="https://www.northernminer.com/news/video-quartermain-says-gold-should-be-classed-as-a-critical-metal/1003863762/">recently</a> offered his perspective, claiming that acknowledging gold&#8217;s critical role in modern electronics could unlock new sources of finance, accelerate mining projects, and drive technological advancement.
Also Read: <a href="https://www.benzinga.com/news/24/02/36968704/fission-uranium-announces-funding-for-uranium-project-in-saskatchewan">Fission Uranium Announces Funding For Uranium Project In Saskatchew</a><a href="https://www.benzinga.com/news/24/02/36968704/fission-uranium-announces-funding-for-uranium-project-in-saskatchewan">an</a>
Image: Pixabay

New Gold To Implement Plan To Boost Gold, Copper Production

Analysts have been eager to weigh in on the Materials sector with new ratings on Axalta Coating Systems (AXTA – Research Report), Danimer Scientifi...

Analysts Have Conflicting Sentiments on These Materials Companies: Axalta Coating Systems (AXTA), Danimer Scientific (DNMR) and New Gold (NGD)

Analysts have been eager to weigh in on the Materials sector with new ratings on Ero Copper (ERO – Research Report) and New Gold (NGD – Research Re...

Analysts Offer Insights on Materials Companies: Ero Copper (ERO) and New Gold (NGD)

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Finding great opportunities in the middle of market swings is a never-ending task in the dynamic world of stock investing. These three stocks, all under $5, are ripe for a dramatic climb and have the potential to develop significantly. 



The gold industry, healthcare technology, and specialty finance all present prospects for the stocks. By making smart acquisitions in the oil and gas industry, the first one aims to increase its income sources strategically. The firm demonstrates scalability and a diversified revenue model. This is expected to generate high asset-level cash flow.



Meanwhile, the second one&rsquo;s unwavering focus on cutting costs results in notable increases in profitability. By reducing yearly expenses and increasing GAAP operating income, the company demonstrates its capacity to provide financial stability and efficiency in the highly competitive healthcare industry. 



Finally, the third one generates strong cash flow and holds excellent liquidity in Q1, maintaining a solid financial base despite market problems. For investors looking to gain exposure to the strong gold market, the company offers an alluring prospect with its strategic investments in development projects and focus on the operational edge.



<h2>Acacia (ACTG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/actg-1600-300x169.jpg" alt="Acacia Research Corporation website homepage"><div>Source: Pavel Kapysh / Shutterstock.com</div></div>Benchmark, Acacia&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/actg-stock-quote/">ACTG</a>) oil and gas business subsidiary, has strategically expanded its portfolio with a significant acquisition in Texas and Oklahoma. This move has added substantial new land, produced wells, diversified and scaled up our revenue, and signaled a promising outlook for consistent cash inflows from the oil and gas segment. In 2024, we anticipate the combined Benchmark organization to generate asset-level cash flow of&nbsp;<a href="https://feeds.issuerdirect.com/news-release.html?newsid=6452112749576975" target="_blank">approximately $50 million,</a>&nbsp;Signaling a promising outlook for consistent cash inflows from the oil and gas segment.



Additionally, over Q1 2024, total sales increased from&nbsp;<a href="https://feeds.issuerdirect.com/news-release.html?newsid=6452112749576975" target="_blank">$14.8 million to $24.3 million</a>, with licensing and other revenue from the intellectual property business sector showing a significant rise. Due to the sale of Arix shares,&nbsp;Acacia has access to a larger capital base and over $400 million in cash. Acacia showed sound financial management by eliminating non-recourse debt at Benchmark and paying off senior secured notes, leaving the parent company debt-free and in a healthier financial position.



Lastly, Acacia reported a positive EPS after deducting an extra accrual linked to the AIP matter, amounting to&nbsp;$0.06 per share.&nbsp;In short, Printronix and Benchmark&rsquo;s vital contributions to operating income demonstrate the efficacy of&nbsp;smart&nbsp;acquisitions in augmenting the bottom line.



<h2>CareCloud (CCLD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/cloud1600-300x169.jpg" alt="an image of a cloud imprinted on a circuit board lit up by blue circuit lights"><div>Source: Shutterstock</div></div>CareCloud (NASDAQ:<a href="https://investorplace.com/stock-quotes/ccld-stock-quote/">CCLD</a>) has demonstrated its commitment to financial stability through a proactive cost-cutting strategy. Since October 2023, the company has reduced yearly expenditures by nearly<a href="https://d1io3yog0oux5.cloudfront.net/_2c524efdb3a64118b225052285d81f03/carecloud/news/2024-05-14_CareCloud_Reports_First_Quarter_2024_648.pdf" target="_blank">&nbsp;$22 million</a>. This strategic approach has yielded tangible financial gains, with a Q1 2024 GAAP operational gain of $129,000, a significant improvement from the Q1 2023 operating loss of $223,000. 



Furthermore, the company&rsquo;s Q1 2024 GAAP net loss dropped to $241,000 from $401,000, and it reported an adjusted EBITDA of $3.7 million. These positive results reflect our effective cost-revenue alignment and utilization of our technology and integration core capabilities. Additionally, the company&rsquo;s free cash flow in Q1<a href="https://d1io3yog0oux5.cloudfront.net/_2c524efdb3a64118b225052285d81f03/carecloud/news/2024-05-14_CareCloud_Reports_First_Quarter_2024_648.pdf" target="_blank">&nbsp;was $2.2 million</a>, as opposed to $2.0 million in Q1 2023. Thanks to the increase in free cash flow, CareCloud&rsquo;s debt commitments have been lowered. 



Lastly, in 2024, the company returned $1 million in March and a further $1 million in April, bringing the total amount owed on its&nbsp;<a href="https://d1io3yog0oux5.cloudfront.net/_2c524efdb3a64118b225052285d81f03/carecloud/db/2240/20972/webcast_transcript/final-051424-carecloud-q1-2024-results-conference-call.pdf" target="_blank">credit facility down to $2 million.</a>&nbsp;Therefore, CareCloud improves its financial flexibility by reducing debt and fortifying its balance sheet. It is setting itself up for potential growth.



<h2>New Gold (NGD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/05/gold-mining-stocks1600-300x169.png" alt="Gold Nugget mining from the River in Austria, real Gold. Gold mining stocks"><div>Source: Aleksandrkozak / Shutterstock.com</div></div>New Gold (NYSEMKT:<a href="https://investorplace.com/stock-quotes/ngd-stock-quote/">NGD</a>) showed financial resiliency in Q1 2024 by generating substantial cash from operations ($73 million) despite somewhat reduced sales compared to Q1 2023.&nbsp;<a href="https://s28.q4cdn.com/380852864/files/doc_financials/2024/q1/05-01-2024-Q1-2024-Earnings-Webcast-FINAL.pdf" target="_blank">The company maintained a good position with $530 million&nbsp;</a>in total liquidity at the end of Q1 and $157 million in cash. This solid financial position offers a strong base for operational investments and growth projects. 



Additionally, New Gold invested&nbsp;<a href="https://s28.q4cdn.com/380852864/files/doc_financials/2024/q1/05-01-2024-Q1-2024-Earnings-Webcast-FINAL.pdf" target="_blank">over $35 million</a>&nbsp;in growth capital during Q1, allocating resources to development initiatives in&nbsp;a smart&nbsp;manner. Increased production capacity includes investing in subterranean development at Rainy River and New Afton.&nbsp;Moreover, important expansion project milestones, such as the Rainy River Underground Main project and the New Afton C-Zone project, may be completed in H2 2024. These initiatives are crucial for boosting cash flow generation and output. 



Finally, positive safety statistics indicate New Gold emphasizes safe and responsible mining procedures. In Q1, the company&rsquo;s combined total recordable injury frequency rate&nbsp;<a href="https://seekingalpha.com/article/4687962-new-gold-inc-ngd-q1-2024-earnings-call-transcript" target="_blank">(TRIFR) was 0.92</a>. Hence, the company&rsquo;s operational performance follows the plan, with edge and discipline to hit strategic objectives.







On <a href="https://investorplace.com/stock-types/penny-stocks/">Penny Stocks</a> and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



 Read More: Penny Stocks &mdash; How to Profit Without Getting Scammed 



On the&nbsp;date of publication, Yiannis Zourmpanos did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Yiannis Zourmpanos is the founder of Yiazou Capital Research, a stock-market research platform designed to elevate the due diligence process through in-depth business analysis.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/under-5-gems-3-stocks-ready-for-a-radical-rise/">Under $5 Gems: 3 Stocks Ready for a Radical Rise</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Under $5 Gems: 3 Stocks Ready for a Radical Rise

New Gold (TSE:NGD) has released an update. New Gold Inc. has successfully renegotiated a reduction in royalty rates from 46% to 19.9% for their New...

New Gold Reduces Royalty Rates, Strengthens Finances

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
While the precious metals sector has been disregarded by many as an ancient relic, gold stocks to buy have represented an incredibly popular topic as of late. That&rsquo;s been helped by the fact that recently, the yellow metal reached an <a href="https://www.cbsnews.com/news/gold-prices-have-hit-a-new-record-high-5-moves-to-make-now/#:~:text=After%20hovering%20near%20%242%2C300%20an,high%20for%20the%20precious%20metal.">all-time high</a>. While the sector has faded somewhat, this could be a healthy correction before another big move.



Indeed, gold might not be done with its rally thanks to the fear trade. Essentially, the fear trade represents a desire to acquire safe-haven assets. Historically, there has never been a safer asset than precious metals. Subsequently, <a href="https://www.cbsnews.com/news/costco-is-selling-200-million-in-gold-and-silver-monthly-heres-why-you-should-buy-in-now/">people from big-box retailers</a> to central banks have started acquiring physical gold bullion.



It might seem irrational to some but there&rsquo;s a reason behind the surge. Geopolitically, we have flashpoints raging in many parts of the world. Economically, rising concerns exist about debt loads, delinquencies and overall social stability. Add in a contentious U.S. election cycle and the fear trade has plenty of justification. With that in mind, below are gold stocks to buy.



<h2>Kinross Gold (KGC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/kinross-kgc-1600-300x169.jpg" alt="Cellphone with business logo of Canadian mining company Kinross Gold Corp. on screen in front of webpage."><div>Source: T. Schneider / Shutterstock.com</div></div>Based in Toronto, Canada, Kinross Gold (NYSE:<a href="https://investorplace.com/stock-quotes/kgc-stock-quote/">KGC</a>) focuses on the acquisition, exploration and development of gold properties. Primarily, these projects are located in the U.S., Brazil, Chile, Canada and Mauritania. Analysts rate KGC stock a <a href="https://www.tipranks.com/stocks/kgc/forecast">consensus strong buy</a> with an $8.45 price target, implying almost 5% upside potential. However, the high-side target lands at $10.06.



Financially, the justification for the strong endorsement centers in part on Kinross&rsquo; earnings performances. Between the second quarter of 2023 to Q1 2024, the company&rsquo;s average positive earnings surprise hit 42.93%. Over the trailing 12 months (<a href="https://investorplace.com/stock-quotes/ttm-stock-quote/">TTM</a>), the miner&rsquo;s net income reached $433.1 million on revenue of $4.39 billion. Presently, its quarterly revenue growth (year-over-year) rate stands at 16.4%.



For fiscal 2024, covering experts believe that earnings per share will expand 13.6% to 50 cents. On the top line, sales could rise by 10.1% to hit $4.67 billion. Further, the blue-sky revenue target is $4.89 billion. KGC has already gained over 36% and its technical profile appears healthy. Thus, it&rsquo;s one of the gold stocks to buy.



<h2>Equinox Gold (EQX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/12/gold-300x169.jpg" alt="A pile of shining gold bars. Gold stocks"><div>Source: Shutterstock</div></div>Headquartered in Vancouver, B.C. (Canada), Equinox Gold (NYSEAMERICAN:<a href="https://investorplace.com/stock-quotes/eqx-stock-quote/">EQX</a>) focuses on the exploration acquisition, development and operation of mineral properties in the Americas. Primarily, it explores gold and silver deposits. Analysts peg EQX stock as a <a href="https://www.tipranks.com/stocks/eqx/forecast">moderate buy</a> with a $6.90 average price target, implying almost 24% upside potential. The most optimistic target calls for $8.78 per share.



While Equinox is a bit more hit or miss than Kinross Gold, it can deliver the goods. In the past four quarters since Q1 2024, the company&rsquo;s quarterly surprise came out to 130.73%. Over the TTM period, Equinox posted a net loss of $31.27 million on sales of $1.1 billion. Right now, its quarterly revenue growth rate comes in at 3.1%.



However, this circumstance may change dramatically for the better. For fiscal 2024, experts anticipate a 400% increase in the bottom line to hit 35 cents EPS. On the top line, analysts are calling for 49.3% growth to land at $1.63 billion. Further, the high-side target is seeking $1.7 billion. It&rsquo;s one of the enticing gold stocks to buy.



<h2>Wheaton Precious Metals (WPM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/02/wpm-1600-300x169.jpg" alt="Wheaton Precious Metals logo close-up on website page. WPM stock."><div>Source: Postmodern Studio / Shutterstock</div></div>Also based in Vancouver, BC, Wheaton Precious Metals (NYSE:<a href="https://investorplace.com/stock-quotes/wpm-stock-quote/">WPM</a>) specializes in the streaming business model. Rather than directly mining for gold, silver and other valuable metals, Wheaton pays mining enterprises upfront cash. In exchange, the company will take either a portion or all of the metals produced. Analysts rate WPM stock a <a href="https://www.tipranks.com/stocks/wpm/forecast">strong buy</a> with a $59.94 average price target.



It&rsquo;s a confident endorsement and it&rsquo;s supported by Wheaton&rsquo;s consistent financial print. Between Q2 2023 and Q1 2024, the company&rsquo;s average positive earnings surprise clocked in at 12.98%. Over the TTM period, Wheaton posted net income of $590.29 million on revenue of $1.1 billion. Currently, its quarterly revenue growth stands at 38.4%.



While this rate might decelerate, it may not do so by much. For fiscal 2024, experts anticipate EPS of $1.31, implying 11% YOY growth. On the top line, sales could reach $1.23 billion, implying 21% YOY growth. The blue-sky revenue target calls for $1.35 billion, making WPM an enticing idea for gold stocks to buy.



<h2>Franco-Nevada (FNV)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/gold-stocks-300x169.png" alt="An image of a rising bar graph on top of gold bars, representing gold stocks"><div>Source: Alexander Limbach / Shutterstock</div></div>Hailing from Toronto, Franco-Nevada (NYSE:<a href="https://investorplace.com/stock-quotes/fnv-stock-quote/">FNV</a>) operates as a gold-focused royalty and streaming company. Royalty firms are similar to streaming. However, rather than taking a cut of the metal production in exchange for upfront capital, royalties involve taking a portion (or all) of the generated revenue. Analysts peg FNV stock as a <a href="https://www.tipranks.com/stocks/fnv/forecast">consensus moderate buy</a> with a $143.01 average price target, implying over 17% growth.



As with the other gold stocks to buy on this list, Franco-Nevada has impressed investors with its consistent performances. In the past four quarters since Q1 2024, the company&rsquo;s average positive earnings surprise came out to 5.13%. During the TTM period, Franco-Nevada incurred a net loss of $478.4 million on revenue of $1.2 billion. Presently, its quarterly revenue growth rate sits at a loss of 7.1%.



It&rsquo;s a tricky matter since analysts project a decline in fiscal 2024 for both earnings and sales. However, in fiscal 2025, EPS could rise to $3.90, better than last year&rsquo;s print of $3.64. Moreover, revenue could hit $1.31 billion, a boost from last year&rsquo;s haul of $1.22 billion.



<h2>New Gold (NGD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/12/gold-300x169.jpg" alt="A pile of shining gold bars. Gold stocks"><div>Source: Shutterstock</div></div>Another Toronto-based enterprise, New Gold (NYSEAMERICAN:<a href="https://investorplace.com/stock-quotes/ngd-stock-quote/">NGD</a>) bills itself as an intermediate gold mining firm. It develops and operates mineral properties in Canada, primarily exploring gold, silver and copper deposits. Analysts rate NGD stock as a <a href="https://www.tipranks.com/stocks/ngd/forecast">consensus moderate buy</a> with an average price target of $2.21, implying over 12% upside. The high-side target reaches $2.56.



Financially, New Gold is promising but is also liable for some misses. For example, it posted EPS of 2 cents against an expected target of breakeven. However, in Q4, the company incurred a loss per share of 1 cent when experts targeted EPS of 2 cents. Over the TTM period, New Gold incurred a net loss of $76.2 million on sales of $777 million.



Currently, its quarterly revenue growth rate sits at 4.7% below parity. However, that could change for the better. For fiscal 2024, experts believe that EPS could expand by almost 86% to hit 13 cents. On the top line, sales could rise by 18.4% to land at $931.39 million. Further, the blue-sky target calls for $963.78 million. It&rsquo;s one of the gold stocks to buy if you wish to speculate.



<h2>McEwen Mining (MUX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/10/gold_g_1600-300x169.jpg" alt="A photo of a gold nugget on a table, being picked up by tweezers, with more gold behind it. Stocks to Buy in March"><div>Source: aerogondo2 / Shutterstock.com</div></div>Yet another Toronto-headquartered entity, McEwen Mining (NYSE:<a href="https://investorplace.com/stock-quotes/mux-stock-quote/">MUX</a>) engages in the exploration, development, production and sale of gold and silver deposits in the U.S., Canada, Mexico and Argentina. It&rsquo;s one of the riskier ideas among gold stocks to buy because of its smaller market capitalization of $1.37 billion. Still, analysts peg MUX as a <a href="https://www.tipranks.com/stocks/mux/forecast#">unanimous strong buy</a> with a $13 average price target.



At first glance, the vote of confidence might seem misguided. Although McEwen posted quarterly beats in Q2 and Q3 last year, its past two earnings disclosures missed experts&rsquo; marks. In the past four quarters, the average quarterly surprise came out to 136.58% below breakeven. However, in the TTM period, net income landed at $77.99 million on sales of $172.71 million.



For fiscal 2024, analysts anticipate a loss of $1.07, which is a significant improvement from last year&rsquo;s loss of $3.15. Moreover, revenue could hit $301.47 million, which would imply 32.6% growth from 2023. Given the tremendous potential upside and the unanimous support, MUX ranks among the gold socks to buy.



<h2>US Gold (USAU)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/07/gold-1600-300x169.jpg" alt="A gold bar along with some coins made of precious metals. gold stocks"><div>Source: allstars / Shutterstock.com</div></div>Based in Elko, Nevada, US Gold (NASDAQ:<a href="https://investorplace.com/stock-quotes/usau-stock-quote/">USAU</a>) is a tiny enterprise. Per data from Yahoo Finance, its <a href="https://finance.yahoo.com/quote/USAU/profile">public profile</a> shows only four full-time employees. The business engages in the exploration and development of gold and precious metals in the U.S. It also explores copper and silver deposits. While extremely risky, USAU is up over 40% since the beginning of the year.



Here&rsquo;s the deal with US Gold. It features a market cap of less than $64 million. Therefore, it&rsquo;s treading water above the nano-cap threshold, which is around $50 million. That said, this diminutive profile affords significant share price mobility. That&rsquo;s particularly intriguing because, for this year, USAU has <a href="https://www.tipranks.com/stocks/usau/forecast#">earned two buy ratings</a>. The price targets are $11 and $15.25.



To be clear, the company is a <a href="https://www.gurufocus.com/stock/USAU/financials">pre-revenue enterprise</a>. Therefore, it&rsquo;s difficult to make heads or tails out of it. Nevertheless, with the endorsement of two experts, it&rsquo;s possible that USAU can strike gold (literally). If so, shares can skyrocket. Keep this on your radar if you like gambling.



On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/7-gold-stocks-to-buy-amid-alarming-fear-trade-signals/">7 Gold Stocks to Buy Amid Alarming Fear Trade Signals</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Gold Stocks to Buy Amid Alarming Fear Trade Signals

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
There are thousands of U.S.-listed stocks categorized as <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a>, or stocks trading for $5 per share or less but only a few can be considered strong buy penny stocks.



&ldquo;Penny stock territory&rdquo; contains a lot of busted growth stories, <a href="https://www.investopedia.com/terms/f/fallenangel.asp">fallen angels</a> and <a href="https://www.investopedia.com/terms/v/valuetrap.asp">value traps</a>, yet dive deep enough into the space, and you&rsquo;ll find plenty of asymmetric opportunities. In other words, stocks where upside potential vastly exceeds downside risk.



There are both growth and value plays within this category. The common denominator is that each of these stocks has one or several potential catalysts that could dramatically increase its respective underlying value.



While not all of them will live up to this potential, and in fact quite a few will miss the mark entirely, in the aggregate owning a basket of such stocks has the potential to produce stunning returns. With this in mind, let&rsquo;s take a look at seven strong buy penny stocks and why risk-hungry investors should consider buying them today.



<h2>Broadwind (BWEN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/06/wind_turbine_1600-300x169.jpg" alt="A wind turbine appears in silhouette against a bright orange and blue sky."><div>Source: Khanthachai C / Shutterstock.com</div></div>Broadwind (NASDAQ:<a href="https://investorplace.com/stock-quotes/bwen-stock-quote/">BWEN</a>) is a manufacturer of industrial equipment used in clean energy infrastructure like wind turbines. Outside of the &ldquo;green wave stocks&rdquo; boom of 2021, and the smaller boom in such stocks around the time the Inflation Reduction Act was passed by Congress last year, BWEN has delivered a mixed performance.



However, lately BWEN stock has again been on a tear for reasons more company-specific in nature. That is, investors have jumped back into BWEN due to positive surprises with equipment maker&rsquo;s fiscal performance. Last quarter, the company beat on revenue and <a href="https://seekingalpha.com/news/4105683-broadwind-gaap-eps-of-0_07-beats-0_14-revenue-of-37_62m-beats-2_53m?source=content_type%3Areact%7Csection%3Asummary%7Csection_asset%3Aall_news%7Cfirst_level_url%3Asymbol%7Cbutton%3ATitle%7Clock_status%3ANo%7Cline%3A4">unexpectedly reported positive GAAP earnings</a>. Broadwind also reported a <a href="https://investors.bwen.com/investor-news/investor-news-details/2024/Broadwind-Announces-First-Quarter-2024-Results/default.aspx">43.5%</a> sequential increase in orders.



BWEN bolted from just over $2 per share to nearly $4 per share since this well-received earnings release but the potential for additional upside remains. Forecasts call for Broadwind&rsquo;s earnings to increase sixfold next year, to <a href="https://www.wsj.com/market-data/quotes/BWEN">36 cents per share</a>. Such an improvement may prove sufficient to send the stock to even higher prices.



<h2>Elite Pharmaceuticals (ELTP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/08/pharmaceutical1600-300x169.png" alt="pharmaceutical industry. Production line machine conveyor with glass bottles ampoules at factory"><div>Source: Dmitry Kalinovsky / Shutterstock.com</div></div>In the past, I&rsquo;ve named Elite Pharmaceuticals (OTCMKTS:<a href="https://investorplace.com/stock-quotes/eltp-stock-quote/">ELTP</a>) as being one of the strong buy penny stocks. As discussed previously, shares in this over-the-counter (OTC) listed pharma firm delivered <a href="https://investorplace.com/2023/10/q4-stock-predictions-7-penny-stocks-ready-to-roar-into-2024/">an incredible performance during 2023</a>. During that time frame, ELTP went from 3 cents to 14 cents per share.



ELTP stock has continued to gain this year, albeit at a far slower pace compared to the preceding year. However, don&rsquo;t assume that the rate of price appreciation will continue to slow down to a trickle. Why? The company justed received Food and Drug Administration (FDA) <a href="https://elite.irpass.com/profiles/investor/ResLibraryView.asp?ResLibraryID=134477&amp;BzID=2258&amp;g=939&amp;Nav=0&amp;LangID=1&amp;s=0">approval for a generic methotrexate drug product</a>. Methotrexate is an anti-rheumatic drug with a total annual addressable market estimated at $64.3 million.



That may sound like chump change for big pharma, yet for micro-cap ELTP it could really be a game-changer in terms of its operating performance in the years ahead. Last year, Elite&rsquo;s revenue totaled just $47.3 million. The stock currently trades at an inexpensive 10.8 times trailing 12 month (TTM) earnings. Alongside the prospect of rising in line with increased earnings, there may be potential for shares to be re-rated to a higher valuation.



<h2>E2 Open Parent Holdings (ETWO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/06/supply-chain-forklift-workers-1600-300x169.jpg" alt="silhouettes of a forklift and driver as well as two workers by a semi truck backdropped by a sunset sky. represents the supply chain"><div>Source: shutterstock.com/By yuttana Contributor Studio</div></div>E2 Open Parent Holdings (NYSE:<a href="https://investorplace.com/stock-quotes/etwo-stock-quote/">ETWO</a>) has more than doubled since October, but the incredible run in this supply chain management software purveyor may not be over. <a href="https://www.bloomberg.com/news/articles/2023-10-16/elliott-said-to-mull-buyout-of-supply-chain-software-firm-e2open">Shareholder activism and buyout rumors</a> have been a major factor behind ETWO&rsquo;s strong performance during this time frame.



In March the company announced it was beginning a <a href="https://seekingalpha.com/news/4077204-e2open-soars-after-announcing-start-of-strategic-review?source=content_type%3Areact%7Csection%3Asummary%7Csection_asset%3Aall_news%7Cfirst_level_url%3Asymbol%7Cbutton%3ATitle%7Clock_status%3ANo%7Cline%3A5">&ldquo;strategic review,&rdquo;</a> which may include a sale of the company. ETWO stock has traded sideways since, but any news regarding a buyout could lead to another rally. That&rsquo;s not all. Even if takeover rumors ultimately fall apart, further improvement in E2 Open&rsquo;s operating performance may do the trick.



As InvestorPlace Earnings reported on Apr. 29, E2 Open <a href="https://investorplace.com/earning-results/2024/04/etwo-stock-earnings-e2open-parent-holdings-for-q4-of-2024/">beat on revenue and earnings</a> during the company&rsquo;s fiscal fourth quarter ending Feb. 29. Given that this $4.50 per share penny stock previously traded in the low-teens, even a partial recovery would represent big upside.



<h2>Lesaka Technologies (LSAK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/smartphone-mobile-financial-fintech-1600-300x169.jpg" alt="Illustration of phone with dollar sign and other graphics symbolizing fintech displayed on and around it, with a blue background. Fintech Stock Bargains. fintech stocks to buy"><div>Source: shutterstock.com/ZinetroN</div></div>I&rsquo;ve writen multiple times Lesaka Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/lsak-stock-quote/">LSAK</a>) is a <a href="https://investorplace.com/2024/05/7-fintech-stocks-to-buy-now-may-2024/">one of the best fintech stocks</a>. It is also <a href="https://investorplace.com/2024/05/investing-in-the-future-3-promising-penny-stocks-to-watch/">one of the strong buy penny stocks</a>. This South Africa-based fintech firm provides payment technology services in its home market and adjacent markets in Southern Africa. So far this year, the announcement of strategic acquisitions has bolstered confidence in the company&rsquo;s turnaround.



By acquiring competitors, Lesaka is positioning itself as the leading fintech services provider for South Africa&rsquo;s informal economy. The mergers will also likely produce significant cost savings, enabling the company to reach consistent profitability. While not certain, South Africa&rsquo;s recent general election may explain why LSAK stock has lost momentum after surging from $3.50 to nearly $5 per share.



Uncertainty exists over the African National Congress (ANC) needing to form a coalition government. It failed to win a majority and it was unknown whether the ANC would form one with centrist, pro-business parties or with parties less favorable to business and foreign investment. However, the latest developments suggest the planned Government of National Unity will <a href="https://www.reuters.com/world/africa/south-africa-is-forming-unity-government-what-happens-next-2024-06-12/">consist of the former</a> rather than the latter.



<h2>Moberg Pharma (MBGPF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/syringe-needle-biopharma-1600-1-300x169.jpg" alt="A syringe with a safety cap and a surgical mask laid out on a blank background"><div>Source: shutterstock.com/Michele Ursi</div></div>Moberg Pharma (OTCMKTS:<a href="https://investorplace.com/stock-quotes/mbgpf-stock-quote/">MBGPF</a>) is a Sweden-based pharmaceutical company focused primarily on the development of a nail fungus treatment. Since publication of a <a href="https://leftfieldinvesting.substack.com/p/moberg-pharma">bullish write-up</a> by Left Field Investing last November, this obscure company in a decidedly unglamorous business has <a href="https://twitter.com/search?q=Moberg%20Pharma&amp;src=typed_query&amp;f=live">garnered increased attention</a> among members of X&rsquo;s (formerly Twitter) &ldquo;Fintwit&rdquo; community.



Here&rsquo;s the bull case in a nutshell for Moberg. After <a href="https://www.mobergpharma.com/node/3560">success</a><a href="https://investorplace.com/stock-quotes/-stock-quote/"></a><a href="https://www.mobergpharma.com/node/3560">fully launching its treatment</a> Terclara in its home market, Moberg is now focused on commercializing it globally. The company thus far has inked commercial partnerships in five jurisdictions, including the European Union and Canada. Given the size of the total addressable market for this treatment and its Swedish market share, Moberg&rsquo;s target of up to <a href="https://www.mobergpharma.com/sites/default/files/moberg_pharma_q1_2024_240507_0.pdf">$500 million</a> in global product sales may be more than reasonable.



Not bad for a company with a market cap of just under $75 million. You can buy Moberg stateside in the OTC market where it trades as MBGPF stock. However, if you have access, a more liquid option may be to buy it via Moberg&rsquo;s main stock market listing, on the NASDAQ OMX Stockholm Nordic Exchange.



<h2>New Gold (NGD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/12/gold-300x169.jpg" alt="A pile of shining gold bars. Gold stocks"><div>Source: Shutterstock</div></div>New Gold (NYSEMKT:<a href="https://investorplace.com/stock-quotes/ngd-stock-quote/">NGD</a>) is a Canada-based gold mining company. The company&rsquo;s main asset is its interest in the Rainy River mine, located in Northwestern Ontario. As you likely know, gold prices, while pulling back lately, have been rising in recent months.



NGD stock has spiked in price alongside this surge. Trading for just over $1 per share in February, New Gold is now at prices nearing $2 per share. Even if it seems that the gold rally is losing momentum, that may not necessarily be the case for NGD. At least, that&rsquo;s the takeaway from <a href="https://seekingalpha.com/news/4112012-new-gold-resumed-at-outperform-at-bmo-after-increasing-new-afton-stake?source=content_type%3Areact%7Csection%3Asummary%7Csection_asset%3Aall_news%7Cfirst_level_url%3Asymbol%7Cbutton%3ATitle%7Clock_status%3ANo%7Cline%3A1">the recent reiteration of an &ldquo;Outperform&rdquo; rating</a> on the stock by BMO&rsquo;s Brian Quast.



On May 31, the sell-sider published a bullish research note on NGD. He cited significant increases in free cash flow ahead primarily due to New Gold increasing its interest in its New Afton copper and gold mine located in British Columbia. Trading for a reasonable 13.2 times forward earnings, the opportunity for increased cash flow could lead to further price appreciation for shares. In the event gold prices keep rising, this could be icing on the cake in terms of upside potential.



<h2>Pitney Bowes (PBI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/08/pbi-stock-1-300x169.jpg" alt="The office logo for Pitney Bowes on a glass building."><div>Source: JHVEPhoto / Shutterstock.com</div></div>Admittedly, Pitney Bowes (NYSE:<a href="https://investorplace.com/stock-quotes/pbi-stock-quote/">PBI</a>) is technically a penny stock right now. With a share price of $5.13 per share, PBI is just above what I like to call the &ldquo;penny stock ceiling.&rdquo; Even so, buying in now could still result in the sort of significant upside investors seek when investing in low-priced penny stocks.



As I&rsquo;ve discussed numerous times in coverage of PBI stock, an activist-led turnaround could result in <a href="https://investorplace.com/2024/04/dividend-diamonds-in-the-rough-7-undervalued-income-stocks/">the significant unlocking of shareholder value</a>. Obviously, with the stock up by 42.1% over the past year, this has already started to happen. Still, far greater upside may lie ahead. From the start activist investor Hestia Capital has estimated Pitney Bowes could eventually be worth between $11.34 and $16.33 per share.



Although Hestia and PBI still have plenty of work to do, recent developments signal they remain on track. As noted in a press release issued last month, PBI appointed a new interim CEO and announced plans to reduce annual operating expenses by as much as <a href="https://www.investorrelations.pitneybowes.com/news-releases/news-release-details/pitney-bowes-announces-leadership-transition-and-new-initiatives">$100 million</a>. It is also finalizing a strategic review that may result in a sale of one of Pitney Bowes&rsquo; subsidiaries.



On Penny Stocks and Low-Volume Stocks:&nbsp;With only the rarest exceptions,&nbsp;InvestorPlace does not publish commentary about companies that have a market cap of&nbsp;less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because&nbsp;these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market&nbsp;manipulators. If we ever do publish commentary on a low-volume stock that may be&nbsp;affected by our commentary, we demand that InvestorPlace.com&rsquo;s writers disclose this&nbsp;fact and warn readers of the risks.



Read More:&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/">Penny Stocks &mdash; How to Profit Without Getting Scammed</a>



On the date of publication, Thomas Niel held LSAK. He did not hold (either directly or indirectly) any positions in the other securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Thomas Niel, contributor for InvestorPlace.com, has been writing single-stock analysis for web-based publications since 2016.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/7-strong-buy-penny-stocks-to-buy-now-june-2024/">7 Strong Buy Penny Stocks to Buy Now: June 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Strong Buy Penny Stocks to Buy Now: June 2024

ACTG

AXTA

BWEN

CCLD

DNMR

ELTP

ETWO

LSAK

MBGPF

USAU

Press Releases

New Gold Increases Exposure in New Afton Copper/Gold Mine to 80% and Launches US$150 Million Bought Deal Financing

NEW GOLD ANNOUNCES RESULTS OF VOTE FOR ELECTION OF BOARD OF DIRECTORS

NEW GOLD COMPLETES US$173 MILLION BOUGHT DEAL FINANCING

Star Royalties Reports Q1 2024 Financial Results

NEW GOLD INTERSECTS WIDE, HIGH-GRADE COPPER-GOLD PORPHYRY MINERALIZATION AT NEW AFTON'S K-ZONE

New Gold

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