NGD News and Headlines - New Gold Inc
Regarding our increases in existing positions, we would like to highlight our substantial increase in New Gold's (TSX:NGD) stock. It is interesting to analyze this case: we bought it almost 4 years ago at a price of about USD 4 per share. Due to problems in one of its gold mines, its stock plunged by 90% to USD 0.46/share. On numerous occasions we have referred to New Gold as one of our investment errors due to such sharp drop. However, we did not sell it at the time because we felt that the drop in the price was much
The tables below show our funds’ performance in the first quarter of 2020.The individual return of each investor depends on the net asset value at which the subscription was made:
From a longer-term perspective, the tables below show the total returns obtained by our funds since their launch at the end of 2015, compared with their benchmarks:
During this first quarter of 2020 we have seen stock markets crash. From February 19 to March 23, the S&P 500 index plunged 34%, closing at 2.191 points, its worst level since November
Canada-based New Gold (TSX:NGD) addressed concerns that it might be overleveraged by announcing a new equity offering. The company’s bonds also benefited from the rise in the price of gold during the quarter. Over time, New Gold’s bonds have been affected by investor disappointment with the performance of the company’s Rainy River project. Believing that further volatility is likely, we took the opportunity to sell our New Gold bonds as their price approached par.
From [url=https://www.gurufocus.com/StockBuy.php?GuruName=First+Eagle+Investment]First Eagle Investment[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=First+Eagle+Investment]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=First+Eagle+Investment]Portfolio[/url])'s High Yield Fund third-quarter 2019 shareholder letter.
Credit—especially higher-quality credit—continued to perform well in the third quarter of 2019, but the rally was driven by the ongoing decline of long-term Treasury rates in the face of renewed Federal Reserve accommodation rather than by strengthening credit or macroeconomic fundamentals. As has been the case through much of the post-crisis period, investors in the third quarter generally saw bad news as good news: Signs of a slowing economy were deemed benign because they were likely to provoke greater accommodation from the Fed.
Issuance in the primary high yield market remained healthy, with nearly two-thirds of new issues
New Gold Inc. (NGD) (TSX:NGD) reported strong production results for the fourth quarter and full-year 2018 before Tuesday's opening bell.
Following the announcement, the stock soared 12.5% to $1.98 per share on the American Stock Exchange and 11.72% to 1.43 Canadian dollars ($1.08) per share on the Toronto Stock Exchange.
As a result of improved operations at the Rainy River mine in Ontario and solid performance of the New Afton mine in British Columbia, total gold production from ongoing operations increased 25.7% from the prior-year quarter to 97,428 ounces. As a result, the Canadian miner surpassed the midpoint of its
The stock of Canadian gold producer Yamana Gold Inc. (AUY) is trading below the 200-, 100- and 50-day simple moving average lines after a 12% decline for the 52 weeks through Oct. 26. The share price of $2.33 as of Oct. 26 is just 3 cents over the 52-week low of $2.30 and more than 60% below the 52-week high of $3.80. The company's market capitalization on the New York Stock Exchange is approximately $2.21 billion.
Two other indicators suggest the stock is cheap, which are the price-book ratio of 0.53 versus an industry median of
Canadian miner New Gold Inc. (NGD) announced on Sept. 19 it is selling its Mesquite Mine to Equinox Gold Corp. (TSXV:EQX).
The deal, which has been valued at $158 million, is expected to close in the fourth quarter.Â
New Gold said the proceeds of the sale will be used to bolster the balance sheet in order to tackle unexpected financial needs and seize investment opportunities.
The market reacted negatively to the news, sending shares lower in after-hours trading on Wednesday.
The California-based asset has been a significant contributor to the company's production. The mine accounted for 30% to 40%
New Gold Inc. (NGD) jumped 2.14% to $2.39 on Friday after the release of financial results for the first quarter.
Investors may want to consider this stock to gain exposure to the metal since the mining company is going to benefit from a 30% growth in gold production. The Rainy River mine in Ontario is ramping up in its first year of full production.
CEO Hannes PortmannÂ saidÂ operational and financial results in the remaining three quarters of 2018 will be strongly impacted by increases in production volume, ore grade and recovery rates expected at Rainy River.
New Gold Inc. (NGD) is falling on the American Stock Exchange.
The gold stock is 8.6% down over the last three days of trading to a share price of $3.43 on Thursday. New Gold has underperformed the VanEck Vectors Gold Miners ETF (GDX) by 6.4% over the same span of time.
The market is cold on New Gold’s improved figures based on 2017 gold production and outlook for 2018.
The Toronto-based intermediate gold mining company with operations in North America and Mexico, produced 430,864 ounces of gold in 2017 versus an output of 381,663 ounces in 2016. The
As an investment management firm, Donald Smith (Trades, Portfolio) & Co. Inc. manages a portfolio composed of 70 stocks with a total value of $4.155 billion. During the third quarter the guru sold shares in the following stocks:
The guru’s holding of Toll Brothers Inc. (TOL) was reduced by 51.05% with an impact of -1.13% on the portfolio.
The luxury homebuilder has a market cap of $7.29 billion and an enterprise value of $10.18 billion.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return
Goldcorp Inc. (GG) announced through its website that it has agreed to buyÂ New Gold’s (NGD) 4% gold stream in its Chilean mine, El Morro, for $65 million in cash.
The El Morro deposit is part of NuevaUnión, the ownership of which is shared by Goldcorp through a 50-50 joint venture with Teck Resources Ltd. (TECK).
The project combines Goldcorp’s El Morro deposit and Teck Resources’ Relincho deposit.
During the fourth quarter of 2015, New Gold sold its 30% interest stake in the El Morro to Goldcorp for net cash proceeds of $62 million, the extinguishment of a loan
Fishing for opportunities in battered sectors can be a frustrating experience.
Just because a particular sector or industry has seen difficult times and prices have declined to bargain levels does not necessarily mean a turnaround is imminent. Quite often, things continue to worsen for a period of time and the bargains become even cheaper before things begin to improve. This is particularly true in commodity related industries like gold mining where no level of corporate efficiency can offset declining prices of a product. A company can cut costs and even improve production levels, but if the commodity itself is falling,
New Gold Inc. (NGD)
Smith revealed owning a stake of 5,038,877 New Gold Inc. shares, worth 0.53% of his portfolio. New Gold Inc. has a market cap of $3.21 billion; its shares are trading currently at around $6.41 with a P/E ratio of 16.1 and a P/B ratio of 1.08.
New Gold is a gold producer engaged in gold mining and related activities
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