BMO Capital Markets on Thursday maintained its outperform rating on the shares of New Gold (NGD.TO, NGD) while raising its price target to C$7.00 from an undisclosed prior level after the miner completed consolidating its ownership of the New Afton mine in British Columbia.
"We are resuming coverage of NGD following the closing of an agreement with Ontario Teacher's Pension Plan (OTPP) to increase its free cash flow interest at New Afton from 80.1% to 100% for a cash payment of US$300M. This was funded with cash on hand, borrowings from its existing revolving credit facility and a gold prepayment financing. With the increased free cash flow interest and Q1/25 financial results added into our model, the corporate NPV increased by ~19%. We maintain our Outperform rating and raise our target price to C$7.00," analyst Brian Quast wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 6.06, Change: -0.02, Percent Change: -0.33
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。