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New Gold +3% on Canaccord upgrade based on valuation

  • New Gold (NGD +3.1%) is upgraded to Buy from Hold at Canccord Genuity, despite lowering its price target to $7.50 from $8, seeing an attractive entry point after the recent share price correction which has more than priced in the development risk with the Blackwater and El Morro projects.
  • A similar Canaccord upgrade for Golden Star Resources (GSS -2.3%) fails to provide the same support, as shares cap an 11.7% drop so far this week and a 23.5% swoon in the past month.
Comments (1)
  • billd12
    , contributor
    Comments (3) | Send Message
     
    one has to worry about this upgrade since the price of gold has been going down
    16 Apr, 04:37 PM Reply Like
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