National Bank Raised the Firm's PT on New Gold (NGD), Kept an Overweight Rating
The improved outlook comes after the company announced its Q1 2025 results, which showed improved production profiles. The consolidated production outlook reached 52,186 ounces of gold and 13.6 million pounds of copper, representing approximately 15% of the midpoint of annual consolidated production guidance of 325,000 to 365,000 ounces of gold.
Aerial view of an open mine with large cranes and excavators working on the surface.
As a result, the consolidated revenue reached $209.1 million, ahead of $192.1 revenue a year ago. Moreover, New Gold Inc. (NYSEAMERICAN:NGD) released two new technical reports that outlined robust production profiles with lower costs for both New Afton and Rainy River. These reports provide a roadmap for increased production, reduced costs, and extended mine life, which are expected to drive shareholder value.
New Gold Inc. (NYSEAMERICAN:NGD) is a Canadian intermediate gold mining company. The company is engaged in mining and the production of gold, silver, and copper.
While we acknowledge the potential of NGD as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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