NGD - New Gold highlights Q4 strongest production strong cash flow and stable outlook
New Gold (NYSE:NGD) eroded ~10% during the days trade after it reported Q4 earnings which indicated strongest production quarter of the year, lowest quarter from a cost perspective thereby leading to a highest free cash flow quarter of the year. It met the 2021 production guidance: Led by higher gold and copper prices, partially offset by lower sales volume, Q4 revenue saw a ~2% growth in revenues. Net earnings for the quarter stood at $151M compared to a net loss of $21M in prior year quarter; gain was led by higher revenue, the gain on the sale of the Blackwater gold stream to Wheaton Precious Metals and lower finance costs. During the quarter, the Company closed the previously announced sale of the Blackwater gold stream to Wheaton Precious Metals for $300M. At the end of the quarter, the company had a cash position of $482M and a strong liquidity position of $857M; it
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New Gold highlights Q4 strongest production, strong cash flow and stable outlook