New Gold Shareholders Approve Coeur Mining Acquisition Plan
Written by Emily J. Thompson, Senior Investment Analyst
New Gold (NGD) announced that at a special meeting of shareholders held earlier, holders of New Gold's common shares voted in favor of the special resolution approving the previously announced plan of arrangement under the Business Corporations Act, whereby a wholly-owned subsidiary of Coeur Mining (CDE) will acquire all of the issued and outstanding common shares of New Gold.
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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: 12.580
Low
8.00
Averages
9.37
High
12.00
Current: 12.580
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.
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Coeur Mining's Acquisition of New Gold Approved by Shareholders
- Merger Approval: Shareholders of Coeur Mining and New Gold overwhelmingly approved the merger plan during a special meeting on January 27, marking a significant step towards creating a new North American precious metals producer.
- Share Exchange Ratio: Under the agreement, New Gold shareholders will receive 0.4959 shares of Coeur for each New Gold share held, resulting in existing shareholders owning approximately 62% and 38% of the combined entity, respectively.
- Regulatory Approvals Pending: The deal is subject to final approval from the Supreme Court of British Columbia and various regulatory bodies, with an expected closing in the first half of 2026, indicating the complexities and uncertainties involved in the merger process.
- Positive Market Reaction: Following the merger announcement, Coeur Mining's stock rose by 1.8% and New Gold's by 2.8%, reflecting strong market optimism and increased investor confidence in the merger's potential benefits.
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