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New Gold ( (TSE:NGD) ) has issued an announcement.
New Gold Inc. reported its highest production quarter for 2024, driven by strong performance at the New Afton mine, which exceeded gold production guidance, somewhat mitigating the Rainy River mine’s underperformance due to operational challenges. The company achieved a 2% increase in gold production and a 20% increase in copper production compared to the previous year, with consolidated gold production slightly below guidance but copper production meeting expectations. These results mark significant growth milestones, including early commercial production at New Afton’s C-Zone and first ore from Rainy River underground, positioning New Gold for enhanced free cash flow generation in the near term.
More about New Gold
New Gold Inc. operates in the mining industry, primarily focusing on gold and copper production. The company is known for its operations at the New Afton and Rainy River mines, with a strategic focus on increasing production, reducing costs, and maximizing free cash flow. It is publicly traded on the TSX and NYSE American exchanges under the symbol NGD.
YTD Price Performance: 3.44%
Average Trading Volume: 8,718,330
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.13B
Learn more about NGD stock on TipRanks’ Stock Analysis page.
