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New Gold resumed with an Outperform at BMO Capital

BMO Capital analyst Brian Quast resumed coverage of New Gold (NGD) with an Outperform rating with a price target of C$7, up from C$6.50, following the closing of an agreement with Ontario Teacher’s Pension Plan to increase the company’s free cash flow interest at New Afton to 100% from 80.1% for a cash payment of $300M.

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