increased new afton stake boosts stock outlook By Investing.com
New (NYSE:) Inc. (AMEX: NGD; TSX: NGD), trading at $2.77 with an impressive year-to-date return of 84.93%, has recently made strategic moves to strengthen its position in the mining industry, particularly through increased ownership in its key asset, the New Afton mine. According to InvestingPro data, the company has demonstrated strong momentum with an 87.5% return over the past year. This analysis examines the company’s recent transactions, financial projections, and market outlook based on analyst reports from May and June 2024.
Strategic Acquisition Boosts New Afton Ownership
In a significant development, New Gold Inc. has finalized an agreement with Ontario Teacher’s Pension Plan (OTPP) to increase its free cash flow interest in…
