Scotiabank Remains a Buy on New Gold (NGD)
Elevate Your Investing Strategy:
Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Turnbull covers the Basic Materials sector, focusing on stocks such as New Gold, Alamos Gold, and Centerra Gold. According to TipRanks, Turnbull has an average return of 2.7% and a 42.06% success rate on recommended stocks.
New Gold has an analyst consensus of Strong Buy, with a price target consensus of $5.35, implying a 21.32% upside from current levels. In a report released on July 18, TR | OpenAI – 4o also upgraded the stock to a Buy with a C$6.50 price target.
NGD market cap is currently $3.41B and has a P/E ratio of 25.53.
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NGD in relation to earlier this year.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
15 minutes ago
- Globe and Mail
Former newswire employee convicted of using unpublished press releases for insider trading
Toronto-area software developer Harpreet Saini must pay more than $1.4-million in fines and spend several months in jail after pleading guilty to insider trading. The sentence announced by the Ontario Securities Commission on Wednesday ends a years-long investigation into Mr. Saini's use of unpublished corporate press releases to trade securities. The OSC tried the case in the Ontario Court of Justice in order for a jail term to be imposed. Mr. Saini admitted to accessing non-public information between May 2018 and July 2021 when he was an employee of Intrado Corporation, which owned the GlobeNewswire service at the time. GlobeNewswire is among the largest sources of corporate disclosure globally and was most recently acquired in May, 2025, by shareholder services provider Equiniti. It distributes news releases on behalf of thousands of companies based in 90 countries around the world. Mr. Saini traded securities 553 times based on information gleaned from 497 unpublished press releases, according to the OSC, resulting in illicit gains exceeding US$770,000. GlobeNewswire employees in Toronto charged with insider trading and fraud In addition to spending six months less a day in jail, his sentence also requires Mr. Saini to repay roughly $1.15-million in ill-gotten profits plus a $100,000 penalty. Provincial law also imposes a mandatory 25 per cent fine surcharge on that amount, bringing his total financial penalty to $1,436,393.66. During the course of the investigation, OSC staff discovered WhatsApp conversations between Mr. Saini and John Natividad, another former GlobeNewswire programmer, discussing possible price movements in the publicly-listed shares of companies that were preparing to issue news through the service. Court records show the two programmers had found a way around the system maintained by GlobeNewswire to track which employees clicked on news releases before they were published. Employees could hover their cursor over a partial headline to reveal the full title 'without leaving an audit trail,' OSC forensic auditor Anthony Long said in an affidavit. The case against Mr. Natividad, who was charged alongside Mr. Saini in September, 2022, remains ongoing. 'Employees who have access to confidential corporate information have a duty to safeguard that information and not misuse it for their personal benefit,' Bonnie Lysyk,' executive vice president of enforcement at the OSC, said in an statement. 'Insider trading is illegal, and it erodes investor confidence in our markets.' This is one of the first major cases to be concluded under Ms. Lysyk's tenure as the market watchdog's top enforcer. She joined the OSC in October, 2024, after spending a decade as the auditor-general of Ontario. Penalties worth more than $1-million and punishments involving jail time are both rare in securities law violations. In its most recent fiscal year, the Ontario Capital Markets Tribunal – an independent division of the OSC – issued a total of $81.6-million worth of administrative penalties, disgorgement orders and settlement amounts. Sentences involving jail time must be issued by provincial courts as the Tribunal can only impose monetary penalties and ban individuals from trading securities serving as corporate officers or directors. According to the OSC's latest annual report, Ontario courts handed down a total of 57 months worth of jail sentences for matters referred to them by the regulator during its 2023-2024 fiscal year. The OSC also has a long history of struggling to collect the fines it issues. Its current collections rate is just 4.5 per cent, meaning it receives just $4.50 for every $100 in penalties levied.
Globe and Mail
15 minutes ago
- Globe and Mail
B.C. Labour Board slams Amazon in appeal ruling
VANCOUVER, BC, Aug. 6, 2025 /CNW/ - Amazon has failed to overturn the B.C. Labour Relations Board's ruling and the company suffered a scathing indictment from the Board about its conduct during the Unifor unionization drive at the Delta B.C. facility ("YVR2").
Globe and Mail
15 minutes ago
- Globe and Mail
Speeding up generic drug approval timelines a priority, health minister says
The federal government is committed to speeding up drug approval timelines as part of Prime Minister Mark Carney's drive to improve efficiency and cut red tape, Health Minister Marjorie Michel said in an interview. The Globe and Mail reported this week on new data that showed Health Canada is increasingly failing to review generic drug applications within its 180-day target, meaning cheaper pharmaceuticals are taking longer to get to market. That is on top of Canada's historically slow timelines for all drugs, which rank among the longest in developed countries. Ms. Michel said that, while safety can't be compromised, it is clear there are ways to make the approval process more efficient and she has asked her department to report to her regularly on timelines. 'It's a priority for me,' she said in an interview Tuesday. Generic version of Ozempic, Wegovy to launch in Canada by Hims & Hers The Liberals promised in the spring election to 'significantly reduce' wait times for pharmaceuticals, which it acknowledged were longer than in other Group of Seven countries. 'By cutting red tape without compromising on safety we will cut this timeline while maintaining all relevant safety standards, supporting our research community and delivering life-saving medicines more quickly,' the Liberal campaign platform said. Health Canada has said one reason for delays in generics applications is incomplete or inadequate documentation from pharmaceutical companies. Data reported by The Globe this week showed that, in the 2024-25 fiscal year, 70 per cent of applications received a ruling in the final week before the 180-day target. In about three-quarters of those cases, the applications were rejected and Health Canada requested further information. But 90 per cent of applications were ultimately approved, leading the Canadian Generic Pharmaceutical Association, which represents generic drug makers, to argue that the early rejections are more a sign of files being picked up too late and not because of underlying deficiencies with the drugs. Ms. Michel said one relatively straightforward solution is earlier screening of applications. 'Where I can push is, yeah, we cannot take eight months to let them know' when there are paperwork issues, she said. 'If work has to be done, then the person needs to know as soon as possible.' Sandoz to reportedly offer generic weight-loss drugs in Canada at up to 70% discount Another area of improvement the minister identified is better collaboration with regulators in other countries. Most large pharmaceutical companies operate globally and have to work with regulators in other countries. They often question why Canadian regulators take longer than European peers. 'I would say also that what I'm encouraging my department to do a lot is to lean on approvals done by like-minded partners,' Ms. Michel said. 'Because if a drug is approved somewhere, we trust that [they] have the same regulations than we have or quite the same, well, maybe it can speed up the process.' Not all parts of the drug approval process are under federal control. The final stage of the pathway is when drug makers go to the pan-Canadian Pharmaceutical Alliance to negotiate pricing deals with all federal, provincial and territorial public insurance plans. In those discussions, Ottawa is one of 14 seats at the table. Ms. Michel said she is working with provincial counterparts on this issue, although it is one of many urgent health problems the system is facing. 'You know, they are overwhelmed, maybe with primary care,' she said of the provinces, adding that it is her role to bring everyone to the table and 'see how we can, you know, speed the process.' She said one of Canada's major strengths is its research sector. She said that will continue to be a focus and pointed to an announcement of $1.3-billion in research funding she and Industry Minister Mélanie Joly made in July. 'We have to deliver on this,' she said.
