옵션 체인은 다양한 행사가격과 만기일에 대한 New Gold의 주식 옵션 주요 데이터를 보여줍니다. 트레이더들은 이 정보를 사용하여 잠재적 거래를 분석하고 New Gold에 대한 시장 심리를 평가합니다..

New Gold (AMEX:NGD) 주식, 옵션 체인

New Gold

New Gold Inc participates in the development and operation of intermediate mining properties. The company has a portfolio of two primary assets which are also its operating segments: 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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다음은 지난주 큰 폭의 상승세를 보인 7개의 중형주 주식이다. 이 주식들은 여러분의 포트폴리오에 있나요? 1. 쾨르 마이닝(NYSE:CDE)의 주식은 36.59% 상승했다. 이 회사는 네바다주에 확장된 로체스터(Rochester) 은-금 광산의 처리량 추세가 긍정적이라고 보고했다.

쾨르 마이닝, 뉴 골드 및 RH는 지난주 최고 성과를 보여준 7개 중형주 중 일부 (9월 8일-9월 14일)

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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

New Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NGD#AMEX">NGD</a>) reported quarterly earnings of $0.07 per share which beat the analyst consensus estimate of $0.06 by 16.67 percent. This is a 800 percent increase over losses of $(0.01) per share from the same period last year. The company reported quarterly sales of $262.20 million which missed the analyst consensus estimate of $265.90 million by 1.39 percent. This is a 31.63 percent increase over sales of $199.20 million the same period last year.

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New Gold Q4 Adj $0.07 Beats $0.06 Estimate, Sales $262.20M Miss $265.90M Estimate

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Earnings Scheduled For February 19, 2025

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 $3.5 to $4.

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Scotiabank Maintains Sector Outperform on New Gold, Raises Price Target to $4

<ul>
<li>Fourth quarter consolidated production was 80,438 ounces of gold and 14.5 million pounds of copper, representing the highest gold and copper production quarter of 2024, resulting in a 2% and 20% increase over the prior-year period, and 3% and 15% increase over the third quarter of 2024, respectively.</li>
<li>New Afton fourth quarter production was 19,652 ounces of gold and 14.5 million pounds of copper, an increase of 19% gold production and 15% copper production over the third quarter. The B3 cave performed as planned, and C-Zone ore production is ramping up as planned following commercial production and crusher commissioning early in the fourth quarter. Gold production beat the top end of the original 2024 guidance, with copper production achieving the midpoint.</li>
<li>Rainy River fourth quarter production was 60,786 ounces of gold. Fourth quarter operations were adversely impacted by unexpected mechanical down-time on the crushing and conveying system in December, leading to lower than expected throughput. As a result, fourth quarter production, specifically December production, was below plan, leading to gold production slightly below the updated 2024 guidance range.</li>
<li>2024 consolidated gold production of 298,303 ounces of gold was slightly below the updated consolidated guidance range of 300,000 to 310,000 ounces, while 54.0 million pounds of copper achieved the midpoint of initial copper production guidance range outlined at the start of 2024. Consolidated all-in sustaining costs3 are expected to be at the low end of the guidance range of $1,240 to $1,340 per gold ounce sold on a by-product basis.</li>
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Reported Earlier, New Gold Reported Q4 2024 Gold Production Of 80,438 Ounces (+2% YoY) And 14.5M Pounds (+20% YoY) Of Copper

WIIM

New Gold shares are trading lower after the company reported worse-than-expected Q3 revenue results.

New Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NGD#AMEX">NGD</a>) reported quarterly earnings of $0.08 per share which beat the analyst consensus estimate of $0.04 by 100 percent. This is a 166.67 percent increase over earnings of $0.03 per share from the same period last year. The company reported quarterly sales of $252.000 million which missed the analyst consensus estimate of $254.320 million by 0.91 percent. This is a 25.19 percent increase over sales of $201.300 million the same period last year.

New Gold Q3 2024 Adj. EPS $0.08 Beats $0.04 Estimate, Sales $252.000M Miss $254.320M Estimate

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Shares of gold companies are trading higher following a spike in the price of the safe haven asset after Iran launched a missile attack on Israel.

Shares of precious metals companies are trading lower amid a pullback in gold and silver.

Shares of gold companies are trading higher after the price of the commodity reached all-time highs following last week's Fed rate cut.

Source: <a href="https://www.streetwisereports.com/article/2024/09/18/exploration-co-appoints-renowned-exploration-geologist-as-adviser.html?utm_medium=feed">Streetwise Reports 09/18/2024</a>
This mining professional was involved in discovering and delineating a 30 billion pound copper resource in Panama. Read on to learn more about him.
Prosper Gold Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/pgxff#OTC">PGXFF</a>) appointed Colin Burge, a retired exploration geologist with a 30-year career, as an adviser to the company starting immediately, it announced in a news release.
&quot;Colin brings a wealth of porphyry knowledge and expertise to our team&quot; President and Chief Executive Officer Peter Bernier said in the release. &quot;We look forward to Colin&#39;s expert engagement and assistance in guiding exploration at the Cyprus project and future development opportunities for the company.&quot;
Burge&#39;s expertise lies in discovering and delineating porphyry copper and volcanogenic massive sulfide (VMS) deposits, mostly using geophysical techniques.
Discovery-oriented Burge was part of Inmet Mining Corp.&#39;s corporate development team that led on-site geological activities that resulted in the discovery and delineation of 30,000,000,000 pounds of copper at the Cobre Panama project in Panama. Subsequently, First Quantum Minerals Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/fqvlf#OTC">FQVLF</a>) acquired Inmet for US$5 billion (US$5B) in 2013.
Previously, Burge managed exploration activities at the Cayeli copper-rich VMS deposit in northeast Turkey and conducted project work in Peru, Australia, Nevada, and Greece for various companies, including Falconbridge Copper Ltd. in British Columbia. He has a bachelor of earth science degree from the University of Waterloo.
Since retiring in 2016, Burge has been evaluating properties for senior and junior mining companies in Canada and the U.S.
In another news announcement in the release, Prosper granted 150,000 stock options to its chief financial officer and an aggregate of 350,000 options to certain of the company&#39;s advisers and employees. Options may be exercised over the next years at CA$0.15 per share. They will vest equally every six months over a two-year period.
<h2>District-Scale Exploration</h2>
Prosper Gold, headquartered in Vancouver, British Columbia (B.C.), is a minerals explorer concentrating on porphyry copper-gold and high-grade gold vein systems, according to its website. Modeled after its predecessor Richfield Ventures, bought out after defining a multimillion-ounce resource, Prosper pursues &quot;the right type of projects at the right time in an improving market.&quot;
The company has two district-scale exploration projects in Canada: Cyprus in north-central B.C. and Golden Sidewalk in northwestern Ontario
Cyprus, the focus of a current exploration program, is a porphyry copper-gold project comprising 623 square kilometers (623 sq km) of contiguous claims in part of an Eocene porphyry belt. It is on trend with American Eagle Gold Corp.&#39;s (OTC: <a class="ticker" href="https://www.benzinga.com/stock/amegf#OTC">AMEGF</a>) NAK Project, 60 km to the south in the same metallogenic belt, Technical Analyst Clive Maund reported in an Aug. 16 report.*
<img alt="" class="float_left" src="https://www.theaureport.com/images/auto_up/202491853055_1.png" style="height:577px; width:1000px" />
The three known copper prospects at Cyprus are Kaza, Northstar, and Big-Time. Historically, the property showed 138 meters (138m) of 0.55% copper. Most recently, a property-wide ZTEM survey was conducted, which outlined six high-priority porphyry copper-gold targets, named Targets A through F, undercover, in areas with little to zero outcrop. They were shown to have multikilometer footprints extending to depth.
Of the sextet, Target A is the highlight as it &quot;represents a very attractive porphyry target.&quot; Next to a regional fault, Target A is a 2-by-4 km conductivity anomaly coinciding with a pronounced magnetic low.
&quot;The recent ZTEM (Z‐Tipper Axis Electromagnetic) survey results are encouraging given the characteristics of the anomalies and the presence of copper-gold mineralization elsewhere on the project&quot; Burge said in the release.
Prosper&#39;s Golden Sidewalk is an Archean orogenic gold project covering 160 sq km of contiguous mineral claims and mining leases in the western Birch-Uchi Greenstone belt, about 60 km east of Ontario&#39;s Red Lake. Three mineralized trends have been identified at the property.
The Canadian exploration company also boasts &quot;an experienced and outstanding management team&quot; as described by Maund. CEO Bernier at Richfield Ventures delineated a significant bulk tonnage deposit whose initial resource estimate was 4,200,000 ounces of gold in the Indicated and Inferred categories. New Gold Inc. (AMEX:NGD) acquired Richfield in 2011 for US$550 million.
&quot;The fact that people like Peter Bernier are on the management team of Prosper Gold means that there is a very good chance of it making a significant discovery or discoveries, for the simple reason that if it didn&#39;t, he probably wouldn&#39;t be there&quot; Maund wrote. &quot;If Peter Bernier can do what he did with Richfield Ventures once, he can do it again.&quot;
<h2>Demand for Copper &quot;Unstoppable&quot;</h2>
The global copper market is expected to grow in value by 2030 to US$259B from US$170B in 2022, according to Statista.
&quot;Copper has become indispensable&quot; Marin Katusa of Katusa Research wrote in a recent article. From electric vehicles to renewable energy systems, its role in the global economy is critical. The ongoing electrification of the world depends heavily on copper, and this dependence is only set to grow.
This is good news for copper exploration companies, particularly those with a copper-gold porphyry deposit. These deposits, according to Investing News Network, are &quot;among the world&#39;s most valuable deposits&quot; because they contain the largest known exploitable concentrations of copper.
INN explained in another article, &quot;Due to their size and scope, copper porphyry deposits have the potential to become large-tonnage, low-cost operations based on mineralization.&quot;
<blockquote class="callOut left">&quot;The strongly positive results from this ZTEM survey make the stock even more of a Buy than it was before&quot; Technical Analyst Clive Maund wrote.</blockquote>
According to Katusa, demand for &quot;the engine of the green economy&quot; is &quot;unstoppable&quot; and a supply crunch is inevitable, as indicated by three metrics.
They are the rapid decline in days of forward consumption of copper, the long-term global market balance for copper moving toward a deficit, and a slowing of global mine production of copper. From 2015 to 2023, only 18,000,000 (18 Mt) of copper were discovered versus 28 Mt in 2014 alone.
While demand for the red metal is increasing, supply remains constrained. Joe Austin, senior analyst at Chaikin Analytics, reported that the copper supply is expected to start declining after peaking at some point in the next two years, according to the International Energy Agency. The agency estimates a copper shortfall of about 7 Mt by 2035, about a third of the output forecasted for that year.
&quot;By 2040, the available supply of copper will be roughly two-thirds of what we produce today. But by then, the demand for copper will have soared far higher than where it is today&quot; Austin wrote.
This anticipated tightening of the copper market is likely to cause a price surge, Katusa purported. In fact, the outlook for the copper price, important for Prosper Gold, is favorable, Maund wrote on Sept. 10.
&quot;The recent reaction appears to have run its course&quot; noted the analyst. &quot;It now looks like it is shaping up to begin another major uptrend, which is hardly surprising given the huge copper supply deficit that is right now starting to bite and is set to get a lot worse as this decade unfolds.&quot;
<h2>The Catalyst: Exploration Progress</h2>
Along with the now completed ZTEM survey, the work planned for Prosper&#39;s in-progress 2024 exploration program includes 2,500m of drilling, trenching, and regional exploration, according to the company&#39;s September 2024 Presentation.
The results of any of these components could push up the explorer&#39;s share price.
<h2>Stock is an Immediate Strong Buy</h2>
The stock charts indicate Prosper Gold is positioned now to break out of its consolidation pattern and begin a new upleg, Maund wrote. This anticipated rally could be better than the last one.
Therefore, Maund rated the stock an Immediate Strong Buy for all time horizons and indicated he intends to remain long in it.
&quot;The strongly positive results from this ZTEM survey make the stock even more of a Buy than it was before&quot; he wrote.
<h2>Ownership and Share Structure</h2>
According to the company,17.9% of Prosper Gold is owned by management and insiders. Of those, CEO Peter Bernier owns the most with 12.88% and Director Jason Hynes owns 1.86%.
The rest is with retail investors.
The company presently has 36.7 million free float shares and a market cap of 4.3 million. The 52-week range of Prosper Gold is US$0.06&ndash;$0.15,
Important Disclosures:
Prosper Gold Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.
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.
* Disclosure for the quote from the Clive Maund article published on August 18, 2024
<ol>
<li>For the quoted article (published on August 18), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$1,500.</li>
<li>Author Certification and Compensation: [Clive Maund of clivemaund. com] is being compensated as an independent contractor by Street Smart, an affiliate of Streetwise Reports, for writing the article quoted. Maund received his UK Technical Analysts&#39; Diploma in 1989. The recommendations and opinions expressed in the article accurately reflect the personal, independent, and objective views of the author regarding any and all of the designated securities discussed. No part of the compensation received by the author was, is, or will be directly or indirectly related to the specific recommendations or views expressed</li>
</ol>
Clivemaund .com Disclosures
The quoted article 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 only be construed as a recommendation or solicitation to buy and sell securities.

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Exploration Co. Appoints Renowned Exploration Geologist as Adviser

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 $2.75 to $3.25.

Scotiabank Maintains Sector Outperform on New Gold, Raises Price Target to $3.25

These seven mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>) shares jumped 36.59%. The company reported positive throughput trends at the expanded Rochester <a href="https://www.benzinga.com//node/40829092" target="_blank" rel="noreferrer noopener">Silver-Gold Mine in Nevada</a>.</li>
<li>Medical Properties Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPW#NYSE">MPW</a>) stock gained 32.85% last week after reaching a global settlement agreement that restored its control over its real estate and severed its relationship with Steward Health Care.</li>
<li>New Gold Inc. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NGD#AMEX">NGD</a>) shares were up 32.48%. The company provided an update on its <a href="https://www.benzinga.com//node/40810423" target="_blank" rel="noreferrer noopener">ongoing Rainy River exploration program</a>.</li>
<li>RH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>) stock gained 29.79% after the company reported better-than-expected Q2 financial results. Multiple analysts raised their <a href="https://www.benzinga.com/quote/RH/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecasts following the report</a>.</li>
<li>Aurora Innovation, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUR#NASDAQ">AUR</a>) stock escalated 29.17%.</li>
<li>Twist Bioscience Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWST#NASDAQ">TWST</a>) shares upped 26.89%. The company's Wilsonville, OR facility has earned LEED certification from the U.S. Green Building Council (USGBC) for meeting sustainability standards in its <a href="https://www.benzinga.com//node/40830370" target="_blank" rel="noreferrer noopener">building, operations, and maintenance</a>.</li>
<li>Alignment Healthcare, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALHC#NASDAQ">ALHC</a>) stock rose 26.88%.</li>
</ol>
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40869287/chewy-broadcom-and-microstrategy-are-among-top-10-large-cap-stock-gainers-last-week-sep-8-sep-14-are" target="_blank" rel="noreferrer noopener">Chewy, Broadcom And MicroStrategy Are Among Top 10 Large Cap Stock Gainers Last Week (Sep 8-Sep 14): Are The Others In Your Portfolio?</a></li>
<li><a href="https://www.benzinga.com/news/large-cap/24/09/40869968/moderna-tyson-foods-and-adobe-are-among-top-10-large-cap-stock-losers-last-week-sep-8-sep-14-are-t" target="_blank" rel="noreferrer noopener">Moderna, Tyson Foods And Adobe Are Among Top 10 Large Cap Stock Losers Last Week (Sep 8-Sep 14): Are The Others In Your Portfolio?</a></li>
</ul>

Coeur Mining, Medical Properties Trust And RH Are Among Top 7 Mid Cap Stock Gainers Last Week (Sep 8-Sep 14): Are The Others In Your Portfolio?

Gold mining stocks, as tracked by the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), are enjoying a stellar rally, rising 4.3% by 11 a.m. ET, on track for its largest one-day <a href="https://www.benzinga.com/topic/mining">gain since early March.</a>
The rally in miners was driven by a surge in gold prices, which jumped 1.6% to reach an all-time high of over $2,550 per ounce on Thursday, fueled by economic data and central bank interest rate decisions.
In the U.S., the latest producer inflation report for <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40831982/producer-inflation-slows-to-1-7-yearly-in-august-jobless-claims-align-with-expect">August showed mixed results.</a> Both the headline and core Producer Price Index (PPI) exceeded monthly expectations, but on an annual basis, they fell short. 
The European Central Bank (ECB) reduced its deposit facility rate <a href="https://www.benzinga.com/government/24/09/40831961/european-central-bank-cuts-key-interest-rates-as-inflation-cools">by 25 basis points</a>, bringing it to 3.5%. The ECB noted it is "appropriate to take another step in moderating the degree of monetary policy restriction." 
This move has increased demand for gold as a safe-haven asset amid lower interest rates in Europe and expectations for a similar 25-basis-point drop in the U.S. fed funds rate next week. 
<h1 class="wp-block-heading">Analyst Takeaways</h1>
Otavio Costa, macro strategist at Crescat Capital, highlighted that Barrick Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), the second-largest gold miner globally, has reported its lowest annual gold production in more than 20 years. 
&#8220;From this perspective, today's environment closely resembles the 1970s,&#8221; Costa wrote in a post on social media platform X.
Back then low gold prices led major mining companies to shift their focus to other metals, just before gold experienced one of the most significant bull runs in history. 
Today, miners are once again diversifying into base metals, not due to low gold prices, but to capitalize on the growing demand for materials critical to electrification, like copper. 
However, this time the shift isn&#8217;t driven by low prices, but by a strategic move to increase exposure to base metals like copper, which are crucial for electrification and have attracted institutional capital. 
Costa argues that neglect of gold, in favor of base metals, is a potential opportunity. With fewer companies exploring and developing new gold projects, he sees several pathways for gold prices to rise, making gold-only investments particularly attractive.
However, Costa sees the limited supply as a bullish catalyst for gold, stating, "I believe it's time to be greedy when others are being fearful."
<h1 class="wp-block-heading">Thursday&#8217;s Seven Top Performing Gold Miners</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>NAME</td>
<td>% RETURN (1-DAY)</td>
</tr>
<tr>
<td>Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>)</td>
<td>14.52</td>
</tr>
<tr>
<td>B2Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTG#NYSE">BTG</a>)</td>
<td>10.04</td>
</tr>
<tr>
<td>First Majestic Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>)</td>
<td>9.96</td>
</tr>
<tr>
<td>Endeavour Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXK#NYSE">EXK</a>)</td>
<td>9.94</td>
</tr>
<tr>
<td>Equinox Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQX#NYSE">EQX</a>)</td>
<td>8.09</td>
</tr>
<tr>
<td>OceanaGold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGC#NYSE">OGC</a>)</td>
<td>7.18</td>
</tr>
<tr>
<td>New Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGD#NYSE">NGD</a>) </td>
<td>7.01</td>
</tr>
</tbody>
</table>
</figure>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40833654/gold-reaches-record-high-as-dollar-weakens-on-soft-producer-inflation-data-wall-street-eyes-four">Gold Reaches Record High As Dollar Weakens On Soft Producer Inflation Data; Wall Street Eyes Fourth Day Of Gains</a></li>
</ul>
Photo: Shutterstock

Equities

Gold Miners Eye Best 1-Day Rally In 6 Months As Gold Hits Fresh Record Highs: 'Today's Environment Closely Resembles The 1970s'

New Gold Inc. ("New Gold" or the "Company") (TSX:<a class="ticker" href="https://www.benzinga.com/stock/NGD#TSX">NGD</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGD#NYSE">NGD</a>)&nbsp;is pleased to provide an update on its ongoing Rainy River exploration program. Over the first eight months of 2024, exploration drilling at Rainy River has proven successful in advancing the Company's exploration objectives to expand existing resource envelopes, confirm the continuity of potential new mining zones, and grow the mineralized footprint through new near-mine discoveries. These results are expected to have a positive impact on Rainy River's mineral resource estimate at year-end 2024 and provide high-quality targets as the foundation of the Company's exploration strategy in the coming years.

TSX:NGD

New Gold Expands Resource Potential with Rainy River Exploration Progress in 2024

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 $2.5 to $2.75.

Scotiabank Maintains Sector Outperform on New Gold, Raises Price Target to $2.75

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 $0.01 by 100 percent. The company reported quarterly sales of $218.200 million which beat the analyst consensus estimate of $214.310 million by 1.82 percent. This is a 18.33 percent increase over sales of $184.400 million the same period last year.

New Gold Q2 2024 Adj. EPS $0.02 Beats $0.01 Estimate, Sales $218.200M Beat $214.310M Estimate

New Gold Inc. ("New Gold" or the "Company") (TSX:<a class="ticker" href="https://www.benzinga.com/stock/NGD#TSX">NGD</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGD#NYSE">NGD</a>)&nbsp;deeply regrets that early this morning, July 24th, 2024, an employee operating a piece of equipment in the open pit was fatally injured at the Rainy River Mine in northwestern Ontario.
The health, safety and wellbeing of our employees is our top priority. The Company is working closely with local authorities and an investigation is underway. Operations have been voluntarily suspended. The thoughts of management are with the family, friends and colleagues who have been impacted by this tragic incident.

New Gold Reports On July 24th, 2024, An Employee Operating A Piece Of Equipment In The Open Pit Was Fatally Injured At The Rainy River Mine In Northwestern Ontario

Have you been paying attention to shares of Agnico Eagle Mines (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aem#NYSE">AEM</a>)? Shares have been on the move with the stock up 16.3% over the past month. The stock hit a new 52-week high of $75.95 in the previous session. Agnico Eagle Mines has gained 36.3% since the start of the year compared to the -1.6% move for the Zacks Basic Materials sector and the 21.1% return for the Zacks Mining - Gold industry.
What&#39;s Driving the Outperformance?
The stock has an impressive record of positive earnings surprises, as it hasn&#39;t missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on April 25, 2024, Agnico reported EPS of $0.76 versus consensus estimate of $0.6 while it beat the consensus revenue estimate by 12.82%.
For the current fiscal year, Agnico is expected to post earnings of $3.28 per share on $7.65 billion in revenues. This represents a 47.09% change in EPS on a 15.49% change in revenues. For the next fiscal year, the company is expected to earn $3.56 per share on $7.67 billion in revenues. This represents a year-over-year change of 8.57% and 0.23%, respectively.
Valuation Metrics
Agnico may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company is due for a pullback from this level.
On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. Investors should consider the style scores a valuable tool that can help you to pick the most appropriate Zacks Rank stocks based on their individual investment style.
Agnico has a Value Score of C. The stock&#39;s Growth and Momentum Scores are A and A, respectively, giving the company a VGM Score of A.
In terms of its value breakdown, the stock currently trades at 22.8X current fiscal year EPS estimates, which is a premium to the peer industry average of 16.3X. On a trailing cash flow basis, the stock currently trades at 14.4X versus its peer group&#39;s average of 10.3X. Additionally, the stock has a PEG ratio of 0.8. This isn&#39;t enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks Rank
We also need to look at the Zacks Rank for the stock, as this supersedes any trend on the style score front. Fortunately, Agnico currently has a Zacks Rank of #2 (Buy) thanks to rising earnings estimates.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Agnico meets the list of requirements. Thus, it seems as though Agnico shares could have potential in the weeks and months to come.
How Does AEM Stack Up to the Competition?
Shares of AEM have been soaring, and the company still appears to be a decent choice, but what about the rest of the industry? One industry peer that looks good is New Gold Inc. (AMEX:NGD). NGD has a Zacks Rank of # 1 (Strong Buy) and a Value Score of B, a Growth Score of B, and a Momentum Score of C.
Earnings were strong last quarter. New Gold Inc. beat our consensus estimate by 100%, and for the current fiscal year, NGD is expected to post earnings of $0.15 per share on revenue of $906.5 million.
Shares of New Gold Inc. have gained 22.4% over the past month, and currently trade at a forward P/E of 16.02X and a P/CF of 5.69X.
The Mining - Gold industry is in the top 11% of all the industries we have in our universe, so it looks like there are some nice tailwinds for AEM and NGD, even beyond their own solid fundamental situation.
<a href="https://www.zacks.com/stock/news/2302374/agnico-eagle-mines-limited-aem-hit-a-52-week-high-can-the-run-continue?cid=CS-BENZ-FT-52_week_high-2302374">To read this article on Zacks.com click here.</a>

Agnico Eagle Mines Limited Hit a 52 Week High, Can the Run Continue?

CIBC analyst Anita Soni maintains New Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NGD#AMEX">NGD</a>) with a Outperformer and raises the price target from $3 to $3.4.

CIBC Maintains Outperformer on New Gold, Raises Price Target to $3.4

Shares of gold companies are trading higher as investors assess Fed Chair Powell's comments. Also, strength may be due to trader uncertainty about when the central bank will start cutting interest rates.

Press Releases

NEW GOLD ANNOUNCES CONTINUED GROWTH AT NEW AFTON'S K-ZONE AND HW ZONE

NEW GOLD PROVIDES NOTICE OF RELEASE OF THIRD QUARTER 2024 RESULTS AND CONFERENCE CALL

NEW GOLD ANNOUNCES COMMERCIAL PRODUCTION AT NEW AFTON'S C-ZONE AND FIRST ORE FROM RAINY RIVER UNDERGROUND MAIN AHEAD OF SCHEDULE

NEW GOLD REPORTS THIRD QUARTER 2024 RESULTS

Opinion

Critical Metals Surge Opens Prime Opportunity for Mining Investors

NEW GOLD DELIVERS HIGHEST PRODUCTION QUARTER OF 2024

NEW GOLD ADVISES OF SENIOR MANAGEMENT CHANGE

Gold Nears $3,000 Milestone: Undervalued Mining Stocks Set to Soar NGD, PNPN.V, ASM, PLG, YGT.V Amid Precious Metals Boom

NEW GOLD ANNOUNCES MINE LIFE EXTENSION AT BOTH NEW AFTON AND RAINY RIVER; OUTLINES STRONG FREE CASH FLOW PROFILE OVER NEXT THREE YEARS

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