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New Gold (NGD) and Eight Capital and RBC

What catches the eye isn't that Jacques Wortman of Eight Capital has cut New Gold (NGD) to neutral from buy (and a C$4.25 target price). What catches the eye is that Wortman had NGD at a buy rating for all this time. Hopefully he now feels as fcuking stupid as he looks to the rest of us.

But even that pales into insignificance next to RBC this morning, who actually think the changes announced last night are a positive for the company. Whoredom and organ sucking of the highest order, especially when you consider this company's bonds were still trading magically and miraculously above par til yesterday.