RBC Capital Remains Bullish on New Gold (NGD)

New Gold Inc. (NYSE:NGD) is one of the best affordable stocks under $5 to invest inIn a report released on July 7, Michael Siperco from RBC Capital maintained a Buy rating on New Gold Inc. (NYSE:NGD) and set a price target of $6.00.

New Gold (NGD) Drops 8.5%, Enters Oversold Territory; Time to Buy?

Aerial view of an open mine with large cranes and excavators working on the surface.

New Gold Inc. (NYSE:NGD) reported first-quarter consolidated production of 52,186 ounces of gold and 13.6 million pounds of copper at an all-in sustaining expense of $1,727 per gold ounce sold.

Q1 2025 gold production accounted for around 15% of the midpoint of annual consolidated production guidance of 325,000 to 365,000 ounces of gold, prompting New Gold Inc. (NYSE:NGD) to be slightly ahead of its planned Q1 of 14%.

New Gold Inc. (NYSE:NGD) is a Canada-based intermediate gold mining company that acquires, explores, and develops natural resources properties, including gold. It operates two core-producing assets in the country: the Rainy River gold mine and the New Afton copper-gold mine. New Gold Inc. (NYSE:NGD) also holds other Canadian-focused investments.

While we acknowledge the potential of NGD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NGD and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.