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Fly News Breaks for December 4, 2019
Dec 4, 2019 | 16:20 EDT
RBC Capital analyst Josh Wolfson assumed coverage New Gold and downgraded the shares to Underperform from Sector Perform with a 65c price target. The analyst sees "limited ability" for the company to generate cash flow beyond debt repayment. This constricts New Gold's overall financial flexibility and presents greater downside risk to the stock relative to peers, Wolfson tells investors in a research note.
News For NGD From the Last 2 Days
Jan 14, 2021 | 06:39 EST
Total production for the fourth quarter was 120,567 gold equivalent ounces (83,096 ounces of gold, 199,428 ounces of silver and 18.5M pounds of copper). For the year, production was 437,617 gold eq. ounces (293,139 ounces of gold, 636,952 ounces of silver and 72.1M pounds of copper), achieving mid-range of the revised annual production guidance. Exploration drilling programs at both assets were launched late in the fourth quarter and an update is expected to be released in the latter part of the first quarter. At the end of the quarter, the company had a cash position of $185M and a strong liquidity position of approximately $490M.