|Bid||1.3100 x 0|
|Ask||1.3200 x 0|
|Day's Range||1.2900 - 1.4300|
|52 Week Range||0.8000 - 2.5700|
|Beta (5Y Monthly)||1.82|
|PE Ratio (TTM)||6.55|
|Earnings Date||Nov 10, 2022 - Nov 14, 2022|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.67|
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Shares of precious metals stocks, however, are looking especially lustrous in investors' eyes thanks to companies receiving favorable coverage from Wall Street and silver and gold prices rising higher. As of 11:15 a.m. ET, shares of New Gold (NYSEMKT: NGD) are up 13.4%, while Endeavour Silver (NYSE: EXK) and Coeur Mining (NYSE: CDE) have risen 11.6% and 15.1%, respectively. Believing that New Gold's stock has room to run, Michael Siperco, an analyst at RBC Capital, raised his price target on the company's stock to $1.25 from $1.
Gold stocks were on the march today, riding a broad relief rally as stock prices rose and Treasury yields crashed with the yield on the 10-Year Treasury Note down 5.6% in afternoon trading. There was no obvious trigger for the movement, though the most likely reason seems to be the Bank of England's decision to buy long-dated U.K. government bonds in order to stabilize the pound after the currency had fallen sharply against the dollar in recent weeks. Gold is seen by some investors as a safe haven from money-printing in fiat currencies, especially during high-inflation times, while others believe that higher interest rates are bearish for gold because they make fixed income like bonds more attractive.
New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE American: NGD) is pleased to provide an update on its Rainy River Mine following the heavy rainfall and flooding experienced around the Fort Frances area in northwestern Ontario during the second quarter of 2022. The Company is also providing an update on the advancement of the Intrepid underground zone.