12 Best Gold Mining Companies to Buy Now

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9. New Gold Inc. (NYSE:NGD)

Analyst Upside: 15.48%

Number of Hedge Fund Holders: 28

New Gold Inc. (NYSE:NGD) is one of the best gold mining companies to buy now. On August 1, Canaccord increased the price target on New Gold Inc. (NYSE:NGD) stock from $5.99 to $6.53, maintaining its Buy rating.

Jeremy Hoy from Canaccord raised the price target on New Gold Inc. (NYSE:NGD) following the strong Q2 FY2025 results. The company posted revenue of $308 million and adjusted earnings per share of $0.11. The analyst remains positive on New Gold following a record FCF of $63 million in Q2, with Rainy River contributing the highest quarterly FCF of $45 million. The increase in FCF at Rainy River was driven by increased production and processing of higher-grade open-pit ore.

Hoy believes that the increase in FCF will underpin further share price outperformance as the company delivers on near-term production growth. New Gold has also made notable progress on the C-Zone cave construction at New Afton, which remains one of the top-producing mines for the company.

New Gold Inc. (NYSE:NGD) is a Canadian gold mining company that is engaged in the development and operation of mineral properties. The company primarily explores for gold, silver, and copper deposits.

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