NGD - New Gold: Q2 Production Results Look Good And May Signal More Upside
New Gold (NGD) has just reported second-quarter operating results for its two mines. Earlier, the market has been worried about the company's performance after the Rainy River mine had problems with a buildup of water in the tailings management area, sending shares to new lows in late May, but the upside in gold prices helped the stock recover. Now, this momentum may be supported by actual fundamental performance of the company as the Q2 operational report is good.
In the second quarter, the company produced 132,556 gold equivalent ounces and reaffirmed annual guidance