New Gold Q3-2011 Financial Results, Net Cash from Operations +105%

Dear PGM CAPITAL Blog readers,
Today, November 4th 2011, Vancouver Canada based, New Gold Inc, (TSX: NGD),  (ISIN:CA6445351068) reported its Q3-2011 Financial Results.

Highlights:

  • Quarterly gold sales increased to 93,028 ounces from 89,692 ounces in the same period in 2010.
  • Net cash generated from operations increased by 105% to CAD 71 million
  • CAD 433 million of cash at September 30, 2011

Source:

Company Profile

  • The Vancouver Canada, based company which was founded in 1980,, is an intermediate gold producer with a portfolio of global assets in the United States, Mexico, Australia, Canada and Chile.
  • The Company owns 100% of the Mesquite Mine in the United States, 100% of the Cerro San Pedro Mine in Mexico, 100% of the Peak Gold Mines in Australia and 30% of the El Morro Project in Chile.

Based on the company’s fundamentals, today’s blockbuster Q3-2011 financial report, a Debt/Equity Ratio of 0.12, a Quick Ratio of 3.3  we have a BUY rating on the company.

Disclosure:
By mid September 2010, we have placed Terra Nitrogen Corporation on our watch list, and since than we’ve start adding it to our personal portfolio and those of our clients.

Please receive here below an all tine chart of the company.

Last be but not least, before following any investing advice, always take your investment horizon and risk tolerance into consideration and keep in mind that the price of Commodities, Precious metals as well as the stocks of their producers can be very volatile and that sharp corrections might happen in the short term.

Yours sincerely

Eric Panneflek
Chairman

 

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