Why New Gold Inc. (NGD) Crashed on Tuesday

We recently published an article titled Gold Miners Dominate Tuesday’s Worst-Performing Stocks. In this article, we are going to take a look at where New Gold Inc. (NYSEAMERICAN:NGD) stands against the other stocks.

Wall Street’s main indices bounced back from a bloodbath on Tuesday as investors gobbled up shares on hopes that the US-China trade tensions can subside.

The Dow Jones rallied by 2.66 percent, the S&P 500 rose by 2.51 percent, and the Nasdaq surged by 2.71 percent.

Despite a broader market optimism, 10 companies, predominantly gold miners, were heavily sold down amid lower gold prices.

To come up with the list, we considered only the stocks with more than $1 billion in market capitalization and $5 million in trading volume.

Is New Gold Inc. (NGD) the Best Canadian Penny Stock to Invest in Now?

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

New Gold Inc. (NYSEAMERICAN:NGD)

New Gold Inc. dropped its share prices by 5.71 percent on Tuesday to close at $3.47 apiece as investors disposed of shares in the company following the drop in gold prices while repositioning portfolios ahead of the release of its earnings performance.

As of this writing, spot prices of gold were at $3,340.94 per ounce, marking a drop from the $3,500 territory in the previous trading session.

New Gold Inc. is an intermediate gold mining company with a portfolio of two core-producing assets in Canada, namely the Rainy River Mine in Ontario and the New Afton Mine in British Columbia.

The company is set to release its earnings performance on April 29, 2025.

Analysts expect the company to report earnings of $0.01 per share, or a year-on-year decline of 50 percent.


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This article is originally published at Insider Monkey.