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In recent days, New Gold Inc. has drawn increased attention as gold prices hit all-time highs amid geopolitical tensions and concerns about central bank independence, lifting sentiment toward gold miners.
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At the same time, proxy advisor ISS has backed Coeur Mining’s proposed all-share acquisition of New Gold, adding momentum to a deal that would leave New Gold investors owning a meaningful stake in the combined company.
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We’ll now examine how record gold prices, alongside ISS’s support for the Coeur Mining acquisition, could reshape New Gold’s investment narrative.
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To own New Gold today, you have to be comfortable tying your outcome to both the gold price and the successful integration into Coeur Mining, if the deal proceeds. Near term, the most important catalyst is continued execution at Rainy River and New Afton, and the Coeur all share acquisition does not remove the underlying project and cost risks, even with gold at record levels and sentiment high.
The most relevant recent development is ISS recommending that shareholders vote in favour of Coeur Mining’s all share acquisition of New Gold, which the board also supports. If approved on January 27, 2026, New Gold investors would exchange single company exposure for a roughly 38% stake in a larger combined producer, changing how you think about future production growth, costs and balance sheet strength as key drivers of value.
Yet even with stronger gold prices, investors should be aware of how elevated all in sustaining costs could still…
Read the full narrative on New Gold (it’s free!)
New Gold’s narrative projects $2.5 billion revenue and $1.1 billion earnings by 2028.
Uncover how New Gold’s forecasts yield a CA$15.12 fair value, a 7% upside to its current price.
Seven fair value estimates from the Simply Wall St Community span roughly US$5.68 to US$39 per share, highlighting very different views on New Gold’s upside. Against that backdrop, the reliance on Rainy River and New Afton as core assets invites you to weigh how operational execution could influence where the company ultimately sits within that wide range of outcomes.
Explore 7 other fair value estimates on New Gold – why the stock might be worth over 2x more than the current price!
Disagree with existing narratives? Create your own in under 3 minutes – extraordinary investment returns rarely come from following the herd.
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A great starting point for your New Gold research is our analysis highlighting 3 key rewards that could impact your investment decision.
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Our free New Gold research report provides a comprehensive fundamental analysis summarized in a single visual – the Snowflake – making it easy to evaluate New Gold’s overall financial health at a glance.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include NGD.TO.
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