New Gold (NGD) Pops to 12-Year High as Rate Cut Sparks Rosy Prospects

Group 1 - New Gold Inc. (NYSEAmerican:NGD) reached a 12-year high, closing at $8.55 after a 9.20% increase, driven by investor interest following the Federal Reserve's interest rate cut [1][2] - The Federal Reserve cut the benchmark rates by 25 basis points, marking the third and final rate cut for the year, which is expected to benefit mining companies like New Gold due to a weaker US dollar [2] - New Gold Inc. operates the Rainy River mine in Ontario and the New Afton mine in British Columbia, focusing on gold, silver, and copper mining [3] Group 2 - New Gold is set to be acquired by Coeur Mining, Inc. for $7 billion, with shareholders receiving 0.4959 Coeur shares for each NGD share they own [4]