United States Representative Debbie Wasserman Schultz has violated the STOCK Act after failing to disclose a stock trade in New Gold (NYSEAMERICAN: NGD) on time.
According to financial filings, Schultz purchased NGD shares on February 28, 2024, but did not report the transaction until July 1, 2025, well beyond the 45-day disclosure window required by law.
Since her purchase, NGD stock has surged 313%, outperforming the broader market’s 22% return over the same period.
Notably, Schultz is the only member of Congress known to have bought shares in New Gold. This lesser-known Canadian gold mining company typically attracts little institutional or political interest.
Drivers of NGD’s price rally
The trade is likely to raise questions about how Schultz identified the opportunity, especially given the stock’s sharp rise, partly buoyed by growing investor interest in precious metals as safe-haven assets during heightened economic uncertainty and trade tensions.
Adding to the intrigue, New Gold recently posted strong Q1 2025 results, meeting EPS estimates at $0.02 and reporting $289 million in revenue, above the expected $192.13 million.
The company also announced a $30 million exploration budget for 2025, reinforcing its growth ambitions.
As of press time, NGD was trading at $4.91, representing a 150% increase over the past 24 hours.
This isn’t Schultz’s first eyebrow-raising trade. In September 2024, as reported by Finbold, she disclosed a rare purchase of Hecla Mining Company (NYSE: HL), a stock not commonly held in congressional portfolios.
While no official wrongdoing has been alleged, the nature and timing of Schultz’s trades generally revive concerns over lawmakers’ access to non-public information.
Notably, the STOCK Act, passed in 2012 to curb insider trading by members of Congress, has increasingly led lawmakers to violate it as it carries minimal fines in some cases as low as $200 for late disclosures.
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