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New Gold Inc. (NYSE:NGD) is one of the best affordable stocks under $5 to invest in. In a report released on July 7, Michael Siperco from RBC Capital maintained a Buy rating on New Gold Inc. (NYSE:NGD) and set a price target of $6.00.
New Gold Inc. (NYSE:NGD) reported first-quarter consolidated production of 52,186 ounces of gold and 13.6 million pounds of copper at an all-in sustaining expense of $1,727 per gold ounce sold.
Q1 2025 gold production accounted for around 15% of the midpoint of annual consolidated production guidance of 325,000 to 365,000 ounces of gold, prompting New Gold Inc. (NYSE:NGD) to be slightly ahead of its planned Q1 of 14%.
New Gold Inc. (NYSE:NGD) is a Canada-based intermediate gold mining company that acquires, explores, and develops natural resources properties, including gold. It operates two core-producing assets in the country: the Rainy River gold mine and the New Afton copper-gold mine. New Gold Inc. (NYSE:NGD) also holds other Canadian-focused investments.
While we acknowledge the potential of NGD as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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