Stocks in Concern on New Development: New Gold, Inc. (NYSE:NGD), xG Technology, Inc. (NASDAQ:XGTI)

Shares of New Gold, Inc. (NYSE:NGD) [Trend Analysis] runs in leading trade, it moving down -3.03% to traded at $3.20. The firm has price volatility of 6.06% for a week and 4.83% for a month. Its beta stands at 0.35 times. New Gold Inc. (NGD) reported that HannesPortmann has been named President of New Gold. Randall Oliphant will continue in his role of Executive Chairman and Brian Penny will continue as Executive Vice President and Chief Financial Officer. David Schummer, Executive Vice President and Chief Operating Officer, is leaving New Gold and Raymond Threlkeld, currently a member of the company’s Board of Directors, will become Interim Chief Operating Officer.

Mr. Portmann was originally with Western Goldfields Inc. from 2008 until its 2009 merger with New Gold. After the merger, Mr. Portmann’s primary focus was leading New Gold’s corporate development team. Over the last several years he has taken on progressively more accountability in other facets of the business, including investor relations, human resources and exploration, culminating in his role as Executive Vice President, Business Development of the company. He has played a key role in the transactions that have resulted in New Gold having a strong portfolio of assets that combines free cash flow generating mines and important growth projects.

Mr. Portmann has a Bachelor of Science in mining engineering from Queen’s University and is a Chartered Professional Accountant. Narrow down four to firm performance, its weekly performance was -13.16% and monthly performance was -13.84%. The stock price of NGD is moving down from its 20 days moving average with -13.46% and isolated negatively from 50 days moving average with -17.32%.

Several matter pinch shares of xG Technology, Inc. (NASDAQ:XGTI) [Trend Analysis], as shares moving up 57.39% to $3.62 with a share volume of 11.95 Million. xG Technology, Inc. (XGTI) reported that it has signed the final definitive business purchase contract to acquire Vislink Communication Systems from Vislink, Plc. All substantive terms of the acquisition, which was originally reported on Oct. 20, 2016, have been agreed upon by the respective parties and due diligence has been completed. The contract is subject to Vislink shareholder approval, and funding of the acquisition is expected to be finalized thereafter.

The Vislink acquisition gives xG a market-leading position in delivering end-to-end video capture/transmit/receive solutions to broadcast, sports and entertainment, and mission-critical public safety and defense sectors worldwide. The integration of Vislink will add important incometo xG’s overall operations and offer the opportunity to realize numerous synergies with its IMT business unit. At present, there is comparatively little overlap between IMT and Vislink in the areas of product offerings, sales channels, and market coverage, which increases the potential for new and expanded business wins for both companies. The stock is going forward its 52-week low with 1342.23% and moving down from its 52-week high price with -14.82%.

 

About Aaron Smithies

Aaron Smithies has a wide look on current monetary and financial events. He is an editor and a writer. His views; At Streetwise Report, we think the best opportunities arise from a complete understanding of all investing disciplines in order to identify the most attractive stocks at any given time. Interests: Biotech, Finical markets, Dividend stock ideas & income, Energy stocks, Consumer goods stocks

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