Even though gold prices have found a level spot recently, over the last 12 months it has performed strongly, and among the top gold miners during that period of time are New Gold, Inc. (AMEX:NGD), IAMGOLD Corp. (NYSE:IAG), Harmony Gold Mining Co. Ltd. (NYSE:HMY) and Compania de Minas Buenaventura SA (NYSE:BVN).
New Gold had a strong 12 months, rising by 159 percent during that time, with a trailing P/E ratio of 25.3x, has a market capitalization of $4.5 billion. Estimates are for the company to generate $0.21 a share in earnings over the next year.
IAMGOLD Corp. also had a solid 12 months, generating a return of 71 percent during the period. They have a trailing P/E ratio of 30.2x. Expectations are they'll earn $0.47 a share in 2012.
Harmony Gold Mining jumped 56 percent over the last year, with quarterly earnings soaring 170.3 percent over the same quarter last year. It has a trailing P/E ratio of 248.9x. Earnings for 2012 are estimated to come to $0.44 a share.
Compania de Minas Buenaventura SA came in equal with Harmony Gold as far as returns go, also rising by 56 percent over the last 12 months. Its quarterly earnings grew 17.2 percent over last year in the same quarter. BVN has a trailing P/E ratio of 17.09x. Next year they are projected to earn $0.96 a share.
Among all the metals companies, one of the top performers was Silver Wheaton (NYSE:SLW), which grew returns at a rate of 187 percent. Quarterly earnings rose 142 percent over the same quarter last year. Its trailing P/E ratio is 53.2x. In 2012 its expected to earn $0.60 a share.
Showing posts with label New Gold. Show all posts
Showing posts with label New Gold. Show all posts
Wednesday, March 30, 2011
Wednesday, October 20, 2010
New Gold (Amex:NGD), Hecla Mining (NYSE:HL), Thompson Creek (NYSE:TC) Downgraded by UBS (NYSE:UBS)
UBS (NYSE:UBS) took aim at some companies it feels are weak in the mining sector, and downgraded New Gold, Inc. (Amex:NGD), Hecla Mining (NYSE:HL), Thompson Creek Metals (NYSE:TC).
Hecla was downgraded from "Buy" to "Neutral," New Gold from "Buy" to "Neutral," and Thompson Creek Metals was cut from "Buy" to "Neutral" as well.
Thompson Creek Metals closed the trading day Tuesday at $10.76, losing $0.82, or 7.08 percent.
Hecla Mining dropped to $6.60, dropping $0.56, or 7.82 percent. UBS has a price target of $7.75 on them, increasing it from $6.75.
New Gold fell to $6.46, declining $0.56, or 7.98 percent. They have a price target of $7.25 on them from UBS.
Hecla was downgraded from "Buy" to "Neutral," New Gold from "Buy" to "Neutral," and Thompson Creek Metals was cut from "Buy" to "Neutral" as well.
Thompson Creek Metals closed the trading day Tuesday at $10.76, losing $0.82, or 7.08 percent.
Hecla Mining dropped to $6.60, dropping $0.56, or 7.82 percent. UBS has a price target of $7.75 on them, increasing it from $6.75.
New Gold fell to $6.46, declining $0.56, or 7.98 percent. They have a price target of $7.25 on them from UBS.
Friday, August 6, 2010
New Gold (AMEX:NGD) Turns it Around in Second Quarter
New Gold (AMEX:NGD) turned things around for the second quarter of 2009, where they has a net loss of $199.3 million, or $0.77 a share. This quarter they generated net earnings of $17.4 million, or $0.04 a share.
Included in the net earnings in the latest results was a pre-tax gain of $5.5 million in relationship to foreign exchange translation.
Revenue for the quarter was $112.4 million, almost double the $59.2 million last year in the same quarter.
Increases in revenue were attributed to the rising gold sales from the Mesquite mine, along with higher gold prices, which increased from $926 last year to $1,147 in the second quarter this year.
Gold sales for the quarter soared by 56 percent to 82,402 ounces, in comparison to 2009's 52,890 ounces.
Gold production increased t 89,919 ounces, an increase of 62 percent, up from 55,633 ounces last year.
Included in the net earnings in the latest results was a pre-tax gain of $5.5 million in relationship to foreign exchange translation.
Revenue for the quarter was $112.4 million, almost double the $59.2 million last year in the same quarter.
Increases in revenue were attributed to the rising gold sales from the Mesquite mine, along with higher gold prices, which increased from $926 last year to $1,147 in the second quarter this year.
Gold sales for the quarter soared by 56 percent to 82,402 ounces, in comparison to 2009's 52,890 ounces.
Gold production increased t 89,919 ounces, an increase of 62 percent, up from 55,633 ounces last year.
Wednesday, July 7, 2010
New Gold (AMEX:NGD) Shares Plunge as Mexican Court Denies Appeal
New Gold (AMEX:NGD) (TSE:NGD) said today it has had its appeal concerning the revocation of its environmental permit at its Cerro San Pedro mine, denied by a Mexican court.
This evidently reverses an injunction they won in December against the original ruling which force operations at the mine to be suspended, but which freed them to continue production to this point in 2010.
For New Gold this is a big deal, as the Cerro San Pedro mine accounts for 30 percent of the overall annual gold production of the company, and if it is forced to stop production again, it will make a huge impact on their bottom line.
It isn't clear if a complete shutdown is in the works, as the full decision hasn't been received by New Gold as of this writing.
In New York and Toronto New Gold was down over 10.00 percent, as of 12:57 PM EDT.
This evidently reverses an injunction they won in December against the original ruling which force operations at the mine to be suspended, but which freed them to continue production to this point in 2010.
For New Gold this is a big deal, as the Cerro San Pedro mine accounts for 30 percent of the overall annual gold production of the company, and if it is forced to stop production again, it will make a huge impact on their bottom line.
It isn't clear if a complete shutdown is in the works, as the full decision hasn't been received by New Gold as of this writing.
In New York and Toronto New Gold was down over 10.00 percent, as of 12:57 PM EDT.
Tuesday, June 15, 2010
US Gold (AMEX:UXG), Eldorado Gold (NYSE:EGO), Compania de Minas Buenaventura (NYSE:BVN), New Gold (AMEX:NGD) Continue to Surge
Since the S&P 500 hit its high on April 23, gold mining stocks have been hot, and several have soared by double-digits during that time, including US Gold (AMEX:UXG), Eldorado Gold (NYSE:EGO), Compania de Minas Buenaventura (NYSE:BVN), and New Gold (AMEX: NGD), all of which are continuing to soar today, as gold resumes its upward price movement.
Using the high on April 23 and the low on June 7 as a measuring stick for the performance of these gold mining companies, they skyrocketed during that time, with US Gold leading the way with gains of 22.2 percent. Eldorado Gold was next with a gain of 21.9 percent during that period of time, followed by Compania de Minas Buenaventura with a 15.7 percent increase in share price, and last New Gold, which still had a solid 10.4 percent gain.
Much of this was of course simply in line with the rise in gold prices because of concerns over the sovereign debt crisis in Europe and inflation in China related to their urban property markets.
For Eldorado, they also surged upward because management increased gold production estimates for the rest of their fiscal 2010 year, increasing the range from 550,000-600,000 ounces of gold to 575,000-625,000 ounces to be produced this fiscal year.
With Compania de Minas Buenaventura, they benefited from a major gold discovery in a Peru project they are in partnership with Gold Fields (NYSE:GFI) in.
Every company mentioned in this article are continuing to move upward in price today, as gold prices in general move strongly upward after a few days of correction.
Gold prices were up $13.50, reaching $1,234.90 as of 2:22 PM EDT.
Using the high on April 23 and the low on June 7 as a measuring stick for the performance of these gold mining companies, they skyrocketed during that time, with US Gold leading the way with gains of 22.2 percent. Eldorado Gold was next with a gain of 21.9 percent during that period of time, followed by Compania de Minas Buenaventura with a 15.7 percent increase in share price, and last New Gold, which still had a solid 10.4 percent gain.
Much of this was of course simply in line with the rise in gold prices because of concerns over the sovereign debt crisis in Europe and inflation in China related to their urban property markets.
For Eldorado, they also surged upward because management increased gold production estimates for the rest of their fiscal 2010 year, increasing the range from 550,000-600,000 ounces of gold to 575,000-625,000 ounces to be produced this fiscal year.
With Compania de Minas Buenaventura, they benefited from a major gold discovery in a Peru project they are in partnership with Gold Fields (NYSE:GFI) in.
Every company mentioned in this article are continuing to move upward in price today, as gold prices in general move strongly upward after a few days of correction.
Gold prices were up $13.50, reaching $1,234.90 as of 2:22 PM EDT.
Friday, May 7, 2010
New Gold (TSE:NGD) Revenue Over Double
New Gold (TSE:NGD) (AMEX:NGD) revenue was up for the quarter over last year, and earnings met analysts' expectations, as gold sales increased.
Revenue for the latest quarer was more than double last year at the same time, reaching $101.6 million, as earnings came to $17.2 million, or 4 cents a share, exactly what analysts had looked for.
Last year the generated earnings of $12.1 million, or 6 cents a share.
Once the company gets better control of their costs, they could turn a tidy profit and generate significant shareholder value.
The company sales increased to 80,020 ounces, a 44 percent gain.
Guidance from the company has expectations of reaching gold production of 330,000 ounces for 2010, at a cost of $445 to $465 an ounce.
Revenue for the latest quarer was more than double last year at the same time, reaching $101.6 million, as earnings came to $17.2 million, or 4 cents a share, exactly what analysts had looked for.
Last year the generated earnings of $12.1 million, or 6 cents a share.
Once the company gets better control of their costs, they could turn a tidy profit and generate significant shareholder value.
The company sales increased to 80,020 ounces, a 44 percent gain.
Guidance from the company has expectations of reaching gold production of 330,000 ounces for 2010, at a cost of $445 to $465 an ounce.
Wednesday, March 17, 2010
New Gold's (TSE:NGD) Cerro San Pedro Mine Resumes Operations
New Gold's Cerro San Pedro Mine Open for Full Operations
New Gold's (TSE:NGD) announced operations at its Cerro San Pedro mine in Mexico have resumed after it had been partially closed down while waiting for a court to make a decision on the use of explosives at the project.
In 2009 the environmental ministry revoked the permit given to the company in 2006, based on a federal court ruling in the country.
New Gold added they maintain their production estimates at Cerro San Pedro of between 95,000 and 105,000 ounces, at a cost of C$390 to C$410 an ounce sold.
New Gold's (TSE:NGD) announced operations at its Cerro San Pedro mine in Mexico have resumed after it had been partially closed down while waiting for a court to make a decision on the use of explosives at the project.
In 2009 the environmental ministry revoked the permit given to the company in 2006, based on a federal court ruling in the country.
New Gold added they maintain their production estimates at Cerro San Pedro of between 95,000 and 105,000 ounces, at a cost of C$390 to C$410 an ounce sold.
Thursday, March 11, 2010
Barrick Gold (TSE:ABX) Suing Xstrata
Barrick Gold wants to add Xstrata to Lawsuit
Barrick Gold is attempting to add Xstrata to a lawsuit over a Chilean mine.
The battle is over the attempt by New Gold Inc. to sell the property to Goldcorp.
Barrick sued Goldcorp and New Gold where Goldcorp agreed to advance New Gold $463 million to let it buy a 70 percent stake in the El Morro property from Xstrata Plc. Goldcorp also agreed to pay an additional $50 million to purchase the stake from New Gold, which already owned 30 percent and had right of first refusal.
The case centers around Xstrata agreeing to sell its stake in the property to Barrick for $465 million on Oct. 11, on the condition New Gold’s right of first refusal expired, according to Barrick. Since a shareholder agreement didn't allow the transfer of the stake to a third party, Goldcorp’s acquisition was illegal and Barrick was entitled to complete the transaction, according to Barrick.
Barrick Gold wants to add Xstrata to Lawsuit
Barrick Gold is attempting to add Xstrata to a lawsuit over a Chilean mine.
The battle is over the attempt by New Gold Inc. to sell the property to Goldcorp.
Barrick sued Goldcorp and New Gold where Goldcorp agreed to advance New Gold $463 million to let it buy a 70 percent stake in the El Morro property from Xstrata Plc. Goldcorp also agreed to pay an additional $50 million to purchase the stake from New Gold, which already owned 30 percent and had right of first refusal.
The case centers around Xstrata agreeing to sell its stake in the property to Barrick for $465 million on Oct. 11, on the condition New Gold’s right of first refusal expired, according to Barrick. Since a shareholder agreement didn't allow the transfer of the stake to a third party, Goldcorp’s acquisition was illegal and Barrick was entitled to complete the transaction, according to Barrick.
Barrick Gold wants to add Xstrata to Lawsuit
Friday, January 9, 2009
"New Gold Inc." Lowers Debt by Buying Back Senior Secured Notes
In a move to lower its debt load, New Gold Inc (NGD.TO) bought back C$50 million of its senior secured notes at 40 percent off their face value.
As a result, the senior secured debt load of the company will fall from C$237 million to C$187 million. That will also help the company cut an annual C$5 million in costs related to interest from the lowered debt.
Overall debt for the company will be down to C$242 million at the close of the deal.
New Gold estimates there will be a pre-tax increase of $14 million in the first quarter in response to their actions.
Saturday, January 3, 2009
New Gold Places the Amapari Mine on Temporary Care and Maintenance
VANCOUVER, Jan. 2 /PRNewswire-FirstCall/ - New Gold Inc. ("New Gold") (TSX and AMEX - NGD) today placed its Amapari Mine in Brazil on temporary care and maintenance.
Robert Gallagher, New Gold's President and Chief Executive Officer stated: "We had hoped to mine and process oxide ores through the third quarter of 2009, but efforts to maintain recent improvements in production and costs with the increasing amounts of hard transition ore and waste in the Amapari pits have been unsuccessful. While significant resources remain at Amapari, the additional capital required to maintain economic production levels and the limited remaining oxide reserves justifies the decision to place the mine on care and maintenance."
New Gold has determined that it would be more cost-effective to process the remaining oxide ore (including transition material) with the underlying sulphide resource in a new process facility. New Gold is preparing a Preliminary Economic Assessment ("PEA") to exploit this resource with a conventional crush/grind/CIL mill. It is expected that this study will be completed in the first quarter of 2009. New Gold will also investigate other strategic alternatives for the Amapari operation.
In the meantime, mining at Amapari is being suspended immediately. The leaching of stacked material is expected to continue until it is no longer economic to do so. The operation will be placed on care and maintenance pending the results of the PEA. All environmental monitoring and on-going remediation programs will continue during this period and beyond, as will on-going exploration programs on New Gold's concessions at Amapari.
New Gold is an intermediate gold mining company with operating assets in Mexico and Australia and two development projects in Canada and Chile. For further information on New Gold, please visit our website at www.newgold.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained in this press release, including any information relating to New Gold's future financial or operating performance, may be deemed "forward looking". All statements in this press release, other than statements of historical fact, that address events or developments that New Gold expects to occur, are "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast", "budget" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond New Gold's ability to control or predict. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause New Gold's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such factors include, without limitation: the results of the preliminary economic assessment assessing the viability of a new process facility; New Gold's operations are subject to significant capital requirements ; fluctuations in the international currency markets and in the rates of exchange of the currencies of Canada, the United States, Australia, Brazil, Mexico and Chile; price volatility in the spot and forward markets for commodities; impact of any hedging activities, including margin limits and margin calls; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local government legislation in Canada, the United States, Australia, Brazil, Mexico and Chile or any other country in which New Gold currently or may in the future carry on business; taxation; controls, regulations and political or economic developments in the countries in which New Gold does or may carry on business; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits; diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labour disputes; defective title to mineral claims or property or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks) as well as "Risks and Uncertainties" included in New Gold's MD&A filed November 12, 2008 available at www.sedar.com. Forward-looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated in such statements. All of the forward-looking statements contained in this press release are qualified by these cautionary statements. New Gold expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.
SOURCE New Gold Inc.
Robert Gallagher, New Gold's President and Chief Executive Officer stated: "We had hoped to mine and process oxide ores through the third quarter of 2009, but efforts to maintain recent improvements in production and costs with the increasing amounts of hard transition ore and waste in the Amapari pits have been unsuccessful. While significant resources remain at Amapari, the additional capital required to maintain economic production levels and the limited remaining oxide reserves justifies the decision to place the mine on care and maintenance."
New Gold has determined that it would be more cost-effective to process the remaining oxide ore (including transition material) with the underlying sulphide resource in a new process facility. New Gold is preparing a Preliminary Economic Assessment ("PEA") to exploit this resource with a conventional crush/grind/CIL mill. It is expected that this study will be completed in the first quarter of 2009. New Gold will also investigate other strategic alternatives for the Amapari operation.
In the meantime, mining at Amapari is being suspended immediately. The leaching of stacked material is expected to continue until it is no longer economic to do so. The operation will be placed on care and maintenance pending the results of the PEA. All environmental monitoring and on-going remediation programs will continue during this period and beyond, as will on-going exploration programs on New Gold's concessions at Amapari.
New Gold is an intermediate gold mining company with operating assets in Mexico and Australia and two development projects in Canada and Chile. For further information on New Gold, please visit our website at www.newgold.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained in this press release, including any information relating to New Gold's future financial or operating performance, may be deemed "forward looking". All statements in this press release, other than statements of historical fact, that address events or developments that New Gold expects to occur, are "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast", "budget" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond New Gold's ability to control or predict. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause New Gold's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such factors include, without limitation: the results of the preliminary economic assessment assessing the viability of a new process facility; New Gold's operations are subject to significant capital requirements ; fluctuations in the international currency markets and in the rates of exchange of the currencies of Canada, the United States, Australia, Brazil, Mexico and Chile; price volatility in the spot and forward markets for commodities; impact of any hedging activities, including margin limits and margin calls; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local government legislation in Canada, the United States, Australia, Brazil, Mexico and Chile or any other country in which New Gold currently or may in the future carry on business; taxation; controls, regulations and political or economic developments in the countries in which New Gold does or may carry on business; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits; diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labour disputes; defective title to mineral claims or property or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks) as well as "Risks and Uncertainties" included in New Gold's MD&A filed November 12, 2008 available at www.sedar.com. Forward-looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated in such statements. All of the forward-looking statements contained in this press release are qualified by these cautionary statements. New Gold expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.
SOURCE New Gold Inc.
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