5 Best Junior Mining Gold Stocks to Buy in 2022

1. New Gold Inc. (NYSE:NGD)

Number of Hedge Fund Holders: 13

New Gold Inc. (NYSE:NGD) is a Canadian intermediate gold mining company that explores for gold, silver, and copper deposits. The company’s principal operating properties are located in Ontario and British Columbia, as well as San Luis Potosí, Mexico. On October 10, New Gold Inc. (NYSE:NGD) announced that British Columbia provincial regulators have authorized underground development of the C-Zone at its New Afton mine. The company expects the production from the C-Zone to begin in H2 2023. It is one of the best junior mining gold stocks to invest in. 

On October 3, RBC Capital analyst Michael Siperco upgraded New Gold Inc. (NYSE:NGD) to Outperform from Sector Perform with a price target of $1.25, up from $1.00, after his site visit to the Rainy River mine. The analyst said that he has greater confidence in a production recovery from the open pit after the rainfall-impacted results for Q2, as well as improved visibility into the transition to underground mining. He forecasts GEO production at over 40% by 2024, with 30% lower all-in sustaining expenses.

According to Insider Monkey’s database, 13 hedge funds were long New Gold Inc. (NYSE:NGD) at the end of Q2 2022, compared to 14 funds in the prior quarter. Eric Sprott’s Sprott Asset Management is a notable stakeholder of the company, with 15.40 million shares worth $16.5 million.

You can also take a look at 10 Best Indian Stocks To Buy For Short-Term and 12 Best Bear Market Stocks To Buy Now. 

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