The Globe and Mail reports in its Wednesday, April 26, edition that after a "strong" start to 2023, analysts at Canaccord Genuity continue to be bullish on gold and gold equities "with the Fed tightening cycle nearing its end and inflation rates falling." The Globe's David Leeder writes that analysts at Canaccord rate New Gold "buy." Their share target moved up to $2.75 from $2. Analysts on average target the shares at $1.95. The analysts say in a note: "NGD is our top offensive pick for leverage to a rising gold price. ... We believe NGD has hit an inflection point after two years of operating struggles -- we see increasing significant and ongoing increases in production at least through 2027, driven by the Rainy River underground and the B and C zones at New Afton, with commensurate material declines in AISC. Given the growth profile as well as the currently elevated cost structure, we believe NGD has significant leverage to gold prices, and we note that the balance sheet remains sound. We do not believe this pending growth profile is fully priced in; NGD continues to trade at significant discounts to peers on both near-term and long-term metrics. ... We view NGD as an attractive target for larger producers."