New Gold Inc.
Latest New Gold Inc. News and Updates
What Could Drive IAMGOLD Corp.’s Valuation Going Forward?
IAG stock could continue to gain traction due to its high operational leverage, at least as long as the upward trend in gold prices continues.
Polyus Gold International: A Russian Mining Giant
Polyus Gold International is the largest gold producer in Russia. It ranks among the top ten gold miners. It produced 1,696,000 ounces of gold in 2014.
Understanding IAMGOLD’s 2Q17 Earnings Highlights
IAMGOLD’s (IAG) 2Q17 production was 223,000 ounces of gold—growth of 26,000 ounces or 13% year-over-year (or YoY).
Do Central Bank Gold Holdings Point to a Bright Future for Gold?
Central banks have been net buyers of gold since the beginning of the financial crisis of 2008.
Understanding Miners’ Correlation to Gold
Precious metals mining shares that have high correlations with gold include Royal Gold, GoldCorp, New Gold, and Newmont Mining.
Why Miners Have Outshined Precious Metals
Mining stocks are often known to amplify the returns in precious metals. Small losses for metals can bring exponential losses to metal miners, and vice versa.
Did the Fall in the Dollar Boost Precious Metals?
Precious metals saw an upward swing on Tuesday, November 1, 2016. The rise in precious metals was most likely due to the slight fall of the US dollar.
What Were the Main Factors in Kinross’s Production Guidance?
For Kinross’s fiscal 2016 production guidance, the grade reduction at the Kupol and Chirano mines was considered.
Behind IAMGOLD’s 1Q17 Results
IAG’s 1Q17 adjusted EPS (earnings per share) of $0.01 beat the market’s expectation of -$0.01.
Why Gold’s Safe-Haven Demand Remains Tepid
Gold is often touted as the safe-haven asset that investors embrace in times of economic and political uncertainty.
How Mining Stock Volatility Numbers Are Moving Now
First Majestic, New Gold, Agnico, and Silver Wheaton now have RSI scores of 60.5, 56.2, 57.6, 59.6, respectively.
Can AngloGold’s Project Pipeline Provide an Upside to Its Production?
AngloGold Ashanti’s 1Q16 production fell by 7.2% YoY to 861,000 ounces, mainly due to planned reductions at its Obuasi, Tropicana, and Morila mines.
How Does a Negative Interest Rate Policy Affect Gold Investments?
Under a negative interest rate policy, people are charged on their deposits with banks, and banks are charged for their deposits with the central bank.
Which Intermediate Gold Stock Do Analysts Favor Now?
Intermediate gold miners’ (RING) (GDXJ) stock performances were better than those of senior gold miners in 1H17.
Which Gold Stocks Do Analysts Love and Hate?
Gold price’s reversal this year has created opportunities in gold stocks. The SPDR Gold Shares ETF (GLD) had gained 11% year-to-date as of Friday.
Gold Demand Is Waning: What Investors Can Expect
The outlook for gold demand in India is expected to remain weak due to weaker monsoons and a lack of festivities. This puts pressure of the gold demand.
How Are Analysts Rating Yamana after Its 3Q16 Results?
About 45% of analysts covering AUY have given it a “buy” recommendation. About 45% of analysts have issued a “hold.” Only 9% have issued a “sell.”
Australian Miners Hit by Declining Gold Prices, Rising US Dollar
Slumping commodity markets are prompting miners to respond to lower asset prices. Major North American miners including Barrick Gold (ABX) have already put a few mines up for sale.
Analysts on Gold: What’s in Store for the Rest of 2017
It’s always important to watch what analysts are forecasting for gold prices for in short and long terms. This helps investors understand gold’s price outlook.
Why IAMGOLD Has Climbed the Ranks among Analysts
Currently, IAMGOLD (IAG) has the third-highest number of “buy” recommendations among analysts at 75%.
An Overview of SGGDX’s Precious Metals Holdings
The First Eagle Gold Fund Class A’s (SGGDX) portfolio mainly consists of stocks from the precious metals and mining sector.
How the Economic Sentiment Is Playing on Gold
During the past week, average hourly earnings, excluding the farming industry, were below analysts’ expectation of 0.10%.
How IAG’s Westwood Mine Development Is Coming Along
IAMGOLD’s (IAG) Westwood reported 106% higher production in 3Q17 on a YoY (year-over-year) basis, coming in at 33,000 ounces.
Barrick Gold on the Street: How Analysts Are Reacting to the Quarterly Miss
Barrick Gold has 46.0% “buy” ratings, 46.0% “hold” ratings, and 8.0% “sell” ratings. Its target price implies an upside of 29.0% based on its current price of $16.90.
Gold Miner Stocks: What’s Driving Long-Term Production Growth?
After years of cutting back on sustained capital expenditures, gold miners have started to refocus on production growth as gold prices (GLD) remain buoyant in 2016.
What to Expect from Eldorado Gold’s Q3 Conference Call
Eldorado Gold (EGO) stock lost significantly in 2017 due to the standoff with the Greek government and some technical issues at its mines in Turkey.
Analysts Have a Mixed View of Gold Miners ahead of Q2 Earnings
Among the senior and intermediate miners, Eldorado Gold (EGO) and New Gold (NGD) have the fewest “buy” ratings at 15% each.
What Drove the Earnings Miss for Yamana Gold in 2Q16?
Yamana Gold (AUY) reported 2Q16 EBITDA of $148 million, which is lower than consensus expectations of $167 million.
Gold Remains Subdued: Impact of the Impending Rate Hike
Most of the investor sentiment is weighed towards a looming rate hike by the Fed. Any clear indication towards one this year would also be negative for gold (GLD).
Analyzing Gold Variables: Pressure on Gold Prices
The expectations of Greece defaulting on its payment to the IMF might support gold prices to an extent. However, it will also lead to weakness in the euro.
Why Is AngloGold so Confident in 2H16 after Its Slow Run Rate in 1H16?
AngloGold’s 2Q16 production was 3% higher QoQ at 884,000 ounces. Its 1H16 production was 47% of the midpoint of its annual production guidance.
Why Are Intermediate Gold Miners so Exuberant?
Intermediate gold miners are smaller than senior gold miners in terms of production and market capitalization, but they are still generally liquid.
Gold Surges on Non-Farm Employment Data: Will Gains Be Sustainable?
In the wake of the stabilizing economy, we have seen a downfall in precious metals that has been especially painful for gold investors.
Janet Yellen Shares Views on Rate Hike, Gold Falls to 15-Week Low
Gold and other precious metals plummeted on Friday. Gold, silver, platinum, and palladium fell by 0.54%, 0.42%, 1.4%, and 0.7%, respectively.
Will Central Banks’ Gold Reserve Holdings Push Gold Higher?
Russia and China have been vocal about adding gold reserves to cut their economies’ dependence on the US dollar.
How Miners Are Performing in April amid Less Unrest
All four precious metals except palladium saw a down day on Friday, April 20. That led to a fall in most miners’ prices.
Why Barrick suspended Pascua-Lama operations
This suspension is positive for Barrick. The capital that had been allocated for the development of this project will be used to pay down Barrick’s debt and improve its overall financial condition.
Goldcorp Stock Plunges 13% on Its Disappointing Q3 Results
Goldcorp (GG) reported its third-quarter earnings results after the market closed on October 24.
Why Wall Street Loves These Five Gold Stocks
Among miners, Eldorado Gold (EGO), New Gold (NGD), IAMGOLD (IAG), and Barrick Gold (GOLD) have seen the highest gains of 50.6%, 44.4%, 40.3%, and 36.4%, respectively.
Credit Suisse Expects Gold Miners to Follow Gold Higher
Credit Suisse (CS) is positive about gold prices (IAU) in 2019. The bank expects gold prices to average $1,280 per ounce in 2019.
Why Analysts Are Bearish on These Gold Equities
Among senior and intermediate miners (JNUG) (GDX), New Gold (NGD), Barrick Gold (GOLD), Eldorado Gold (EGO), and Kinross Gold (KGC) have the fewest “buy” ratings from analysts, at 0.0%, 16.0%, 38.5%, and 40.0%, respectively.
EGO Skyrocketed in Q1—Could This Outperformance Continue?
Eldorado Gold (EGO) significantly outperformed its peers (JNUG) (GDXJ) as well as gold (GLD) in the first quarter with a gain of 60.8%.
Yamana and Agnico Eagle: Is There More Upside in 2019?
Yamana Gold (AUY) and Agnico Eagle Mines (AEM) outperformed the Gold Miners Index (GDX) and gold (GLD) in the first quarter of 2019.
Analysts Aren’t So Bullish on These Gold Stocks
Among senior and intermediate miners, New Gold, Barrick Gold, Eldorado Gold, and Kinross Gold have the fewest “buy” ratings.
Some Bright Spots in Other Dull Intermediate Gold Miner Stocks
Among intermediate gold miners, Agnico Eagle Mines (AEM) has the highest forward EV-to-EBITDA (enterprise value-to-EBITDA) multiple of 10.6x.
The Market Has Restored IAG’s Discount—Is a Turnaround Possible?
Historically, IAMGOLD (IAG) has traded at a lower valuation than its peers.
What Would It Take to Restore Investors’ Confidence in IAMGOLD?
IAMGOLD (IAG) reported its third-quarter earnings results after the market closed on November 6.
Can Yamana Gold Narrow the Valuation Gap More?
Yamana Gold is trading at a forward EV-to-EBITDA multiple of 5.3x. Yamana Gold is trading at a 17% discount to its last five-year average multiple.
Could New Gold’s Q3 2018 Results Decide Its Future?
New Gold plans to announce its third-quarter results after the market closes on October 24, followed by a conference call to discuss the results on October 25.
Can Randgold Acquisition Help Analyst Sentiment for Barrick Gold?
About 77% of analysts have recommended a “hold” for Barrick Gold, and 9% have recommended a “sell.”
Why New Gold Bulls Have Gone Extinct
As of September 24, New Gold (NGD) has fallen 75%, significantly underperforming its peers.
Can Iamgold Catch Up on Valuations after Q2 2018?
IAG stock is currently trading at a forward EV-to-EBITDA multiple of 4.8x, a discount of 27% to its peers.
How Is the Fed Influencing Precious Metal Demand?
The Fed has hinted that there could be two more interest rate hikes this year, for a total of four hikes in 2018.
How the Platinum Markets Are Moving in Relation to Gold
Higher demand for gasoline-powered vehicles over diesel-based vehicles caused a slump in platinum prices.
How the Fed’s Minutes Played on Precious Metals
On May 23, the Fed’s May meeting minutes gave some support to gold prices as the ten-year Treasury note (IEF) yield dropped almost 5.1 basis points to 3.0%.
US-China Tensions Slowly Settle: How Has Gold Been Affected?
Gold prices dropped to a five-month low of $1,281.80 and closed at $1,283.30 per ounce yesterday.
How Are Miners’ Correlations Moving in May?
In this part of the series, we’ll look at the correlation between gold and four mining stocks.
How Are Precious Metals Reacting to Market Volatility?
Besides the rise and fall in the US dollar, another crucial factor affecting precious metals price changes is overall market volatility.
The Correlation of Miners over the Last Few Years
Over the past three years, NGD has seen a declining correlation to gold, while BTG, RGLD, and NEM have seen mixed correlations.
How Mining Stocks’ Technicals Moved at the End of April
The recent downturn of the metals has had a considerable impact on miners.
Miners’ Correlations and How They’re Moving in April
In this part of our series, we’ll look at the correlation between gold and four mining stocks.
How Have Miners’ Correlations with Gold Been Moving in 2018?
Among these four miners, Newmont has shown the highest correlation to gold, while Franco Nevada has seen the lowest correlation on a YTD (year-to-date) basis.
How Precious Metals and Miners Moving in April?
Precious metals had another up day as gold futures for April expiration rose 0.48% on Friday, April 13, closing at $1,344.80 per ounce.
A Look at Miners’ Volatility in April 2018
The recent unrest in the markets has had a significant effect on precious metals and mining companies.
What Mining Stocks’ Relative Strength Index Tells You
The precious metals and miners were widely expected to react negatively after the Fed decided to hike interest rates.
How Do Miners’ Technicals Look?
It was widely expected that precious metals and miners would react negatively after the FOMC (Federal Open Market Committee) meeting.
How the Lower US Dollar Is Affecting Gold and Miners
On March 23, gold touched a two-week high and closed at $1,349.30 per ounce, and silver ended the day at $16.50 per ounce.
How the FOMC Meeting Moved Precious Metals
Precious metals swung higher as the Federal Reserve ended its two-day meeting with a rise in the key interest rate from 1.50% to 1.75%.
A Look at Miners’ Technical Details
On Wednesday, March 14, 2018, precious metals fell, but miners had a mix of ups and downs.
How Mining Stocks Moved on March 6
Precious metal miners had a reasonably good start to 2018.
How Miners Correlate with Gold
Precious metal mining stocks tend to take their cues from gold prices.
What Do Precious Metal Miners’ Technicals Mean?
Precious metal miners had a good start to 2018. Their prices rose due to the rebound in precious metals.
How Gold Is Pressured by Interest Rates and the US Dollar
All four precious metals fell on February 27, primarily due to the rising strength of the US dollar. The dollar increased 0.56% on the day.
Gold’s Role as a Strategic Asset
Despite the impressive rise of bitcoin in 2017, its increased price volatility and complex mining process have limited its demand.
How Inflationary Pressure Played on Gold Last Week
Among the core indicators playing precious metal prices is the rise in US inflation, which is currently at 2.2%—almost at growth of 1% compared to the start of 2016.
How Volatility Is Affecting Gold
Though the returns on gold haven’t been exceptional over the past year, they have been stable.
Why Gold Failed to Draw a Bid after the Equity Market Sell-Off
In this series, we’ll look at fundamental factors such as inflation, the US dollar, interest rates, and the equity market outlook to assess gold’s outlook for the rest of the year.
The Performance of Mining Stocks in January 2018
SBGL, PAAS, and AU have increased 0.80%, 7%, and 16.7%, respectively, on a 30-day trailing basis.
The Trend Analysis of the Gold–Silver Ratio in January 2018
Gold and silver had a great start to 2018, and they have risen about 3.5% and 1.9%, respectively, year-to-date.
Gold’s Outlook for 2018
Looking ahead for 2018, industry analysts stated in a Bloomberg article that they expect gold to perform better early in the year led, by the “January effect.”
How Gold Could React to a Fed Rate Hike
The Fed’s rate hike process The Fed started its rate hike process back in December 2015, raising key interest rates by 25 basis points. Between then and December 2017, it has raised interest rates five times. The Fed is expecting three rate hikes in 2018. The actual count should, however, depend on data, especially inflation. There are wide-ranging […]
Inflation’s Outlook Firms—How’s Gold’s Looking?
Rising oil prices The pace of inflation in the United States unexpectedly strengthened in December 2017 when the core consumer price index (or CPI) rose by 1.8% year-over-year (or YoY), including a monthly advance of 0.3%. The monthly gain was higher than economists’ expectation of a rise of 0.2%, according to Bloomberg. Inflation expectations (TIPS) have […]
A Brief Correlation Analysis of Miners in the New Year
Mining stocks tend to take their cues from gold. For our correlation analysis, we’ll compare a few different mining stocks to gold.
What Miners’ Moving Averages Indicate
NGD and HL are both trading below their longer-term 100-day moving averages.
The Dollar’s Relationship to Gold in the Week Ended January 12
On January 12, 2018, gold prices hit a four-month high of $1,338.20 per ounce, and it ended the day at $1,333.40.
What’s the 3-Year Correlation between Miners and Gold?
Gold is the most influential precious metal, and most miners follow its price trends.
Mining Stocks Follow Precious Metals: Technical Insights
New Gold, Agnico-Eagle Mines, Franco-Nevada, and Cia de Minas Buenaventura have call-implied volatilities of 45.2%, 24.4%, 21.7%, and 31.2%, respectively.
Your End-of-2017 Correlation Study of the Major Miners
The PowerShares DB Gold Fund (DGL) and the VanEck Merk Gold Trust (OUNZ) rose 2.2% over the five trading days leading up to December 27, 2017.
Correlation Study of the Top Miners and Gold
New Gold has the highest correlation with gold on a YTD (year-to-date) basis, while Sibanye Gold has the lowest correlation.
Why Platinum Led the Precious Metals Pack on December 18
All four precious metals except palladium witnessed an up day on December 18, 2017. Platinum touched the day’s high of $915.3 and ended up at $913.2 per ounce.
Analyzing Mining Stocks’ Post-Rate-Hike Movement
Mining stock analysis In this part of the series, we’ll take a look at First Majestic Silver’s (AG), B2Gold’s (BTG), Goldcorp’s (GG), and New Gold’s (NGD) call-implied volatility and RSI (relative strength index) scores. Volatility analysis AG, BTG, GG, and NGD have call-implied volatility of 42.9%, 54.8%, 25.7%, and 52.4%, respectively. New Gold and Goldcorp have reported trailing-30-day […]
Analyzing Miners’ Volatility Indicators
In this part of our series, we’ll look at the technical indicators for mining stocks. We’ll discuss the call-implied volatility and RSI (relative strength index).
How the Fed’s December Rate Hike Could Impact Gold Prices
While an interest rate hike at the Federal Reserve’s December meeting is almost certain, the Fed is projecting three rate hikes in 2018.
Gold versus Bitcoin: What Investors Need to Know
As the world’s first cryptocurrency, bitcoin has risen more than 1,000% in less than a year. Bitcoin breach $19,000 per coin on December 7 before returning to the $17,000 range.
Mining Stocks: RSI and Moving Average Indicators
First Majestic Silver and Barrick Gold are above their 20-day moving average, while New Gold and Kinross Gold are below their 20-day moving average.
How Turbulence in the Market Has Moved Precious Metals
Often, gold, silver, platinum, and palladium react to the overall risk in the market.
Could the Federal Reserve Decision Move Precious Metals?
Precious metal market participants will be closely watching the economic numbers that come out of the US, especially those that give an indication of the country’s inflation level.
What Led to a Revival in Precious Metals on Monday?
All the four precious metals rose on Monday, November 27. Gold futures for December expiration were up 0.55% to close at $1,294.4 an ounce.
The Fed’s Implications on Precious Metals
Precious metals rose on Tuesday after their impactful retreat on Monday. The market was eagerly waiting for the Federal Reserve minutes due on Wednesday.
India’s Gold Imports Have Fallen: What’s Going On?
For India, gold imports have fallen 16% in value to ~$2.9 billion in October 2017 compared to $3.5 billion in the corresponding month last year.