638,076 Shares in New Gold Inc. (NYSE:NGD) Purchased by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. acquired a new stake in shares of New Gold Inc. (NYSE:NGD) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 638,076 shares of the company’s stock, valued at approximately $1,074,000.

Other large investors also recently modified their holdings of the company. Van ECK Associates Corp grew its position in New Gold by 8.4% in the first quarter. Van ECK Associates Corp now owns 72,499,714 shares of the company’s stock valued at $123,249,000 after acquiring an additional 5,613,145 shares during the period. Hillsdale Investment Management Inc. grew its holdings in shares of New Gold by 222.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 16,216,173 shares of the company’s stock worth $23,508,000 after purchasing an additional 11,186,898 shares during the last quarter. Invenomic Capital Management LP grew its holdings in shares of New Gold by 19.6% in the 4th quarter. Invenomic Capital Management LP now owns 10,101,164 shares of the company’s stock worth $14,748,000 after purchasing an additional 1,654,396 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of New Gold by 346.6% during the 4th quarter. Mackenzie Financial Corp now owns 9,635,055 shares of the company’s stock worth $13,968,000 after purchasing an additional 7,477,711 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in New Gold by 1.0% during the 3rd quarter. American Century Companies Inc. now owns 5,095,417 shares of the company’s stock valued at $4,669,000 after purchasing an additional 48,886 shares during the last quarter. 42.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on NGD. CIBC upped their price objective on shares of New Gold from $3.00 to $3.40 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. National Bank Financial upgraded New Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. StockNews.com cut New Gold from a “buy” rating to a “hold” rating in a report on Friday, May 31st. Scotiabank raised New Gold from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $2.00 to $2.25 in a research note on Tuesday, May 21st. Finally, Cibc World Mkts upgraded New Gold to a “strong-buy” rating in a research note on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, New Gold presently has an average rating of “Moderate Buy” and a consensus price target of $2.18.

New Gold Stock Performance

NGD traded up $0.01 during mid-day trading on Thursday, reaching $2.32. The stock had a trading volume of 553,428 shares, compared to its average volume of 7,458,445. The stock has a fifty day moving average price of $2.05. The company has a market cap of $1.83 billion, a PE ratio of 40.17 and a beta of 1.32. New Gold Inc. has a 52 week low of $0.86 and a 52 week high of $2.46. The company has a quick ratio of 0.89, a current ratio of 1.51 and a debt-to-equity ratio of 0.54.

New Gold (NYSE:NGD) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $192.10 million for the quarter. New Gold had a positive return on equity of 5.23% and a negative net margin of 9.81%. As a group, analysts expect that New Gold Inc. will post 0.15 EPS for the current fiscal year.

New Gold Profile

New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.