New Gold Inc. (NGD) stock prices were down by 9.03% as of the market closing on August 11th 2021, bringing the price per share down to USD$1.31 at the end of the trading day. Subsequent after hours trading saw the stock increase by 3.82%, bringing it up to USD$1.36.
NGD Stock Revenue Reports
NGD stock reported revenues in the amount of USD$198 million for the second quarter of 2021. Revenues for the six month period ended June 30th 2021 came out to USD$363 million. These numbers reflect an increase from prior year periods. This increase was largely driven by higher sales volumes, as well as higher gold and copper prices.
NGD Stock Operating Costs
Operating costs were higher for Q2 2021, as well as the first half of 2021, as compared to their 2020 counterparts. This year-over-year increase was largely attributable to the strengthening of the Canadian dollar. Also contributing were costs related to the development of operations at New Aftron in the first quarter. The yearly difference was accentuated by the Canada Emergency Wage Subsidy benefitting the numbers from 2020.
Additional Finances
Net loss for the second quarter of 2021 were reported at USD$16 million, representing a net loss of USD$0.02 per share. Net earnings for the first half of fiscal 2021 came out to USD$1 million for the period ended June 30th 2021. Higher revenue resulted in the improvement from numbers reported in the prior-year periods. The difference, however, was offset by higher operating costs in the second 2021 quarter. The difference was further offset by the loss on revaluation of the New Afton free cash flow interest obligation, as well as the loss on the revaluation of investments. Furthermore, the 2020 periods included an impairment loss resulting from the reclassification of Blackwater as an asset held for sale.
Adjusted Net Earnings
Adjusted net earnings for the second quarter of 2021 came out to USD$27 million, representing adjusted net earnings of USD$0.04 per share. Numbers for the first half of 2021 were reported at USD$35 million, coming out to USD$0.05 per share. The increase from prior-year periods was largely driven by higher revenues, partially offset by higher costs.
Future Outlook for NGD Stock
Armed with the promising development of its financial reports for Q2 2021, NGD stock is poised to capitalize on its momentum. The company is keen to leverage its growth to ensure a continued trajectory of success. Investors are hopeful for significant and sustained increases in shareholder value.
