Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, June 11, 2010

Article Excerpt

NEW GOLD INC., $6.79, symbol NGD on Toronto, will be added to the FTSE Gold Mine Index on June 21, 2010. FTSE is an independent company that is jointly owned by the U.K.-based Financial Times newspaper and the London Stock Exchange. The FTSE Gold Mine Index includes all gold-mining companies that have sustainable gold production of at least 300,000 ounces a year, and get 51% or more of their revenue from mining gold. New Gold expects to produce a total of 330,000 to 360,000 ounces of gold in 2010. The company’s production will probably rise to over 400,000 ounces in 2012. The company will gain international exposure by being included in the index. As well, managers of mutual funds that track the FTSE Gold Mining Index will likely add it to their funds. New Gold is still a buy. DEVON ENERGY CORP., $68.16, symbol DVN on New York, has completed the sale of its shallow-water properties in the Gulf of Mexico…