11 Cheap Penny Stocks to Buy Now

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2. New Gold Inc. (NYSE:NGD)

Share Price as of July 2: $4.90

Forward P/E Ratio as of July 2: 11.11

Number of Hedge Fund Holders: 28

New Gold Inc. (NYSE:NGD) is one of the cheap penny stocks to buy now. On June 4, New Gold announced the publication of its 2024 Sustainability Report. This marks a decade of the company annually reporting on sustainability topics considered critical to its communities, stakeholders, and business.

The 2024 Sustainability Report was prepared by the Global Reporting Initiative/GRI Standards, which include the newly released GRI 14 Mining Sector supplement, the Sustainability Accounting Standards Board/SASB Metals & Mining Standards, and the Mining Local Procurement Reporting Mechanism/LPRM.

Some of the highlights from the report include a 7.8% reduction in Scope 1 and Scope 2 greenhouse gas emissions from 2023, which contributes to an overall 15% reduction from New Gold’s 2020 baseline. The company also achieved its lowest consolidated total recordable injury frequency rate/TRIFR in its history, decreasing from 0.80 in 2023 to 0.72 in 2024, which was a 42% decrease since 2021 and showed its safety-first culture.

New Gold Inc. (NYSE:NGD) is an intermediate gold mining company that develops and operates mineral properties in Canada.

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