Why Shares of New Gold, Fortuna Silver Mines, and Coeur Mining Are Soaring This Week
It's not only gold bugs who are interested in adding some sparkle to their portfolios this week. Silver aficionados are also scooping up precious metals stocks. With companies reporting quarterly metals-production updates and the rising prices of gold and silver, there's considerable investor interest in adding some luster to their holdings.
As of 2:32 p.m. ET, shares of New Gold (NYSEMKT: NGD) are up 19.2%, while Fortuna Silver Mines (NYSE: FSM) and Coeur Mining (NYSE: CDE) have climbed 15.3% and 17.7%, respectively, since the end of trading last Friday, according to data provided by S&P Global Market Intelligence.
Growing gold production 46% in the second quarter of 2023 from that which it reported during the same period last year, New Gold provided investors with a glittering peek at its Q2 2023 performance. The company has two operating assets in its portfolio, Rainy River and New Afton, both of which reported higher gold production on a year-over-year basis. But wait, there's more. The company also reported 12 million pounds of copper production at New Afton, representing a sharp year-over-year increase of 62%.
Source Fool.com
