NGD - Why Shares of New Gold Fortuna Silver Mines and Coeur Mining Are Soaring This Week
2023-07-14 16:42:00 ET
It's not only gold bugs who are interested in adding some sparkle to their portfolios this week. Silver aficionados are also scooping up precious metals stocks. With companies reporting quarterly metals-production updates and the rising prices of gold and silver, there's considerable investor interest in adding some luster to their holdings.
As of 2:32 p.m. ET, shares of New Gold (NYSEMKT: NGD) are up 19.2%, while Fortuna Silver Mines (NYSE: FSM) and Coeur Mining (NYSE: CDE) have climbed 15.3% and 17.7%, respectively, since the end of trading last Friday, according to data provided by S&P Global Market Intelligence .
Growing gold production 46% in the second quarter of 2023 from that which it reported during the same period last year, New Gold provided investors with a glittering peek at its Q2 2023 performance. The company has two operating assets in its portfolio, Rainy River and New Afton, both of which reported higher gold production on a year-over-year basis. But wait, there's more. The company also reported 12 million pounds of copper production at New Afton, representing a sharp year-over-year increase of 62%.
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Why Shares of New Gold, Fortuna Silver Mines, and Coeur Mining Are Soaring This Week