Gold Miners Gain Momentum as Prices Surge Back Past $3,010
Written by Emily J. Thompson, Senior Investment Analyst
Source: Newsfilter
Gold Market Update: Gold prices have rebounded above $3,010 as major banks remain bullish on future price increases, attracting investors back to mining stocks, particularly Lake Victoria Gold Ltd. which has secured four Mining Licenses for its Tembo Project in Tanzania.
Lake Victoria Gold Developments: The company is focusing on high-priority targets within the Tembo Project, revealing promising gold grades and potential for near-term production while also exploring partnerships and further exploration opportunities.
Analyst Views on NGD
Wall Street analysts forecast NGD stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for NGD is 9.37 USD with a low forecast of 8.00 USD and a high forecast of 12.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
5 Buy
0 Hold
0 Sell
Strong Buy
Current: 12.620
Low
8.00
Averages
9.37
High
12.00
Current: 12.620
Low
8.00
Averages
9.37
High
12.00
About NGD
New Gold Inc. is a Canadian intermediate gold mining company, which is engaged in the development and operation of mineral properties. The assets of the Company, directly or through its subsidiaries, comprise the New Afton Mine in British Columbia, Canada (New Afton) and the Rainy River Mine in Ontario, Canada (Rainy River). The Rainy River is located approximately 65 kilometers (km) northwest of Fort Frances, Ontario, Canada. The New Afton mine is located approximately 10 km west of Kamloops, 350 km northeast of Vancouver, British Columbia, Canada.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
