U.S. gold futures for August delivery fell 0.4% to $1,181.40 an ounce on the Comex Tuesday afternoon after falling as low as $1,177.60 earlier in the day.
Gold prices were down on Tuesday as the dollar gained strength as the U.S. Federal Reserve policy meeting started, according to Reuters. The Federal Open Committee will last for two days until Wednesday.
Investors are looking for clues from Federal Reserve chairperson Janet Yellen on when the U.S. central bank might raise its interest rates, according to Reuters.
New Gold is a mining company based in Vancouver, Canada with gold, silver, and copper assets. The company has exploratory and production activity in North America, South America, and Australia.
TheStreet Ratings team rates NEW GOLD INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate NEW GOLD INC (NGD) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows: