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      New Gold Inc. (NGD) stock is rising in the Pre-Market: Why is it so? - Stocks Telegraph

      By Muhammad Ali

      Published on

      September 8, 2021

      12:41 PM UTC

      New Gold Inc. (NGD) stock is rising in the Pre-Market: Why is it so? - Stocks Telegraph

      Shares of the New Gold Inc. (NGD) stock were rising in the pre-market trading today on September 8, 2021.  NGD stock price saw a push of 4.07% to reach $1.28 a share as of this writing. The stock was declining in the previous trade and went down by 7.52% at closing. There is no certain news or press release of NGD stock to back the bullish sentiment. As of this writing, we have no evidence of recent analysts’ upgrades or increased targeted per share price of New Gold.

      New Gold Inc is a Canada-based gold mining company that focuses on the development and operations of mineral operations. The stock has 100% interest in the Rainy River gold-silver mine and New Afton gold-copper mine, both located in Canada. For your intuition, let’s discuss some recent events of this stock.

      NGD stock’s Q2,2021 Financial Results:

      On August 11, 2021, NGD stock did announce the second quarter 2021 financial results according to which

      • Revenue for the reported quarter reached $198 million while revenue for the first half ended June 30, 2021, was $363 million.
      • Operating expenses for the stock were $913 per gold eq. ounce in the second quarter of 2021. The strengthened Canadian dollar resulted in increased operating for the three- and six-month period of 2021.
      • NGD stock suffered a net loss of $16 million or $0.02 per share in the second quarter of 2021. The stock reported $1.0 million net earnings in the first half ended June 30, 2021.
      • NGD stock reported $27 million adjusted net earnings in the second quarter of 2021. Adjusted net earnings per share were $0.04.

      Operational Highlights of NGD stock in Q2,2021:

      • In the second quarter of 2021, NGD stock produced 55,163 ounces of gold. The expectations were lower for gold grades in the first half as the whole focus was bringing pit walls to the final pit limit. NGD expects increased gold grades in the second half of 2021.
      • The open-pit mine exceeded the target of ~151,000 tonnes per day by achieving 158,556 tonnes per day. This represents a 5% increase as compared to the same tenure of the previous year.
      • The unplanned maintenance activities at the mill resulted in lower performance as it processed 25,349 tonnes per day. Expectations are high for the second half of 2021.

      Wrap Up:

      NGD stock happened to be green today after facing bearish sentiment in the previous trade despite the absence of any news. Such rises and falls do not bother the long-term investors who actually eye on the long-term growth of the stock. In 2021, NGD stock prices decreased by almost 48%.

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