Jump spurs New Gold

Article Excerpt

NEW GOLD $1.37 (Toronto symbol NGD; TSINetwork Rating: Speculative) (888-315-9715; www.newgold.com; Shares outstanding: 575.5 million; Market cap: $792.9 million; No dividends paid) is up over 30% since the start of 2019. That’s in large part due to the improved 2018 fourth-quarter performance of its troubled Rainy River mine in Ontario. The company lowered the expected production for the mine by about 100,000 ounces mid-way through last year. Rainy River started production in 2017 and New Gold has been plagued by cost overruns for its construction as well as grade and recovery issues for its operations. However, gold production for the mine jumped 39% in the latest quarter to 77,202 ounces. New Gold is still a buy, but only for aggressive investors. investors…

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