Stock Track | New Gold Soars After-Hours on Strong Q3 Results and Key Operational Milestones

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New Gold Inc. (NGD) saw its stock soar by 5.15% in after-hours trading on October 29, 2024, following the release of its third-quarter 2024 financial results and operational updates.

The Canadian mining company reported better-than-expected earnings for the third quarter, with adjusted earnings per share of $0.08, surpassing the analyst consensus estimate of $0.04. While sales of $252 million slightly missed the estimated $254.32 million, the company's strong earnings performance was a positive catalyst for the stock.

More significantly, New Gold announced the achievement of key milestones at its New Afton copper-gold mine in British Columbia and the Rainy River gold mine in Ontario. At New Afton, the company achieved commercial production at the C-Zone block cave ahead of schedule, with the materials handling system coming online in October. Additionally, the construction of the C-Zone cave footprint reached the targeted hydraulic radius for self-cave propagation.

At the Rainy River mine, New Gold reported the mining of first development ore from the Underground Main zone, ahead of schedule. This marks an important step towards ramping up underground production to approximately 5,500 tonnes per day by 2027.

These operational updates were warmly received by investors, as they signal the potential for increased production and cost savings, boosting the company's future profitability and cash flow generation.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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(NGD) saw its stock soar by 5.15% in after-hours trading on October 29, 2024, following the release of its third-quarter 2024 financial results and operational updates.\nThe Canadian ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NGD","symbol_name":"New Gold","start_time":0,"source_url":"","article_id":"1134375597","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1134375597","pubTimestamp":1730243559,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"New Gold Inc.  saw its stock soar by 5.15% in after-hours trading on October 29, 2024, following the release of its third-quarter 2024 financial results and operational updates.The Canadian mining company reported better-than-expected earnings for the third quarter, with adjusted earnings per share of $0.08, surpassing the analyst consensus estimate of $0.04. 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