10 Best Gold Stocks To Buy Right Now

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8. New Gold Inc. (USA) (NYSEMKT:NGD)

The number of funds from our database long New Gold Inc. (USA) (NYSEMKT:NGD) stood at 18 at the end of the first quarter, unchanged from three months earlier. However, the total value of their holdings jumped to $111.10 million from $65.97 million. Meanwhile, New Gold’s stock lost 15% during the first quarter.

The decline was mainly caused by bad news from its Rainy River gold project currently under development in Ontario, Canada. The project is expected to produce as much gold as all of New Gold Inc. (USA) (NYSEMKT:NGD)’s other mines, but the company reported its second cost overrun related to the site, saying that it would take three months longer to finish construction and that it would cost another $195 million to complete (in September 2016, it said that the project would require another $105 million). At the end of June, New Gold Inc. (NYSEMKT:NGD) reiterated its target to start gold production at the Rainy River project in September.

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