Why New Gold Stock Is Tumbling Today
Shares of New Gold (NYSEMKT: NGD) slumped more than 12% by 12:45 p.m. EST on Thursday. Weighing on the gold mining company's stock were its weak fourth-quarter results.
New Gold reported an adjusted net loss of $0.04 per share during the fourth quarter, which was $0.01 per share worse than analysts expected. The main issue was weaker production, which drove up its costs.
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Source Fool.com
