NGD - New Gold: On Track For An Earnings Breakout Next Year
- New Gold is one of the top-performing gold stocks this year, up over 100% year to date.
- The company looks to finally be turning around the disappointing Rainy River Miner after a capital-intensive year, with the goal for over 275,000 ounces of annual gold production going forward.
- This increase in annual production, combined with lower costs and no headwind from gold hedges, has New Gold projected to return to positive annual earnings per share in FY2021.
- Based on what looks to be a successful turnaround, I would view any pullbacks below $1.50 as buying opportunities.
For further details see:
New Gold: On Track For An Earnings Breakout Next Year