New Gold Inc. (USA) (NYSEAMEX:NGD) Downgraded
New Gold Inc. (USA) (NYSEAMEX:NGD)
The gold hype has left many stocks behind, but not New Gold.
New Gold looks to have had too much gold hype and look set to come back to the $8 range.
What is most concerning here is New Gold Inc announced the closing of its private offering of $500 million aggregate principal amount of 6.25% Senior Notes due 2022. New Gold intends to use the net proceeds of the Notes for general corporate purposes.
$500m of general corporate purposes?
That puts the company behind the 8 ball considering it is already trading at over 25 times earnings and values around $5.
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Last |
04:01 |
– |
– |
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Close |
12-Dec-2012 |
11.2300 |
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VWAP |
– |
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Bid / Ask |
10.7600 / 11.9100 |
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Day Range |
– – – |
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Beta |
1.70 |
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Vol 1d v 5d |
– v 1.87M |
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Free Float |
– |
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Outstanding |
– |
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Market Cap |
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