New Gold Inc. (NYSE:NGD) Shares Bought by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. increased its stake in shares of New Gold Inc. (NYSE:NGD) by 115.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 241,878 shares of the company’s stock after purchasing an additional 129,447 shares during the period. Northwest & Ethical Investments L.P.’s holdings in New Gold were worth $701,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co increased its holdings in shares of New Gold by 198.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 247,527 shares of the company’s stock worth $416,000 after buying an additional 164,664 shares during the last quarter. Virtu Financial LLC boosted its position in New Gold by 27.9% during the 1st quarter. Virtu Financial LLC now owns 180,386 shares of the company’s stock worth $307,000 after purchasing an additional 39,340 shares during the period. Morton Capital Management LLC CA boosted its position in New Gold by 23.3% during the 2nd quarter. Morton Capital Management LLC CA now owns 26,494 shares of the company’s stock worth $52,000 after purchasing an additional 5,000 shares during the period. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in New Gold during the 2nd quarter worth $458,000. Finally, U S Global Investors Inc. raised its stake in shares of New Gold by 3.3% in the 2nd quarter. U S Global Investors Inc. now owns 2,993,831 shares of the company’s stock valued at $6,260,000 after purchasing an additional 96,487 shares in the last quarter. 42.82% of the stock is currently owned by institutional investors and hedge funds.

New Gold Trading Up 0.4 %

New Gold stock opened at $2.75 on Friday. The firm has a 50 day simple moving average of $2.82 and a 200-day simple moving average of $2.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.84. The stock has a market capitalization of $2.17 billion, a PE ratio of 137.50 and a beta of 1.31. New Gold Inc. has a 12-month low of $1.09 and a 12-month high of $3.25.

New Gold (NYSE:NGD) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. New Gold had a net margin of 2.33% and a return on equity of 9.38%. The firm had revenue of $252.00 million during the quarter. As a group, equities research analysts expect that New Gold Inc. will post 0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NGD. StockNews.com upgraded shares of New Gold from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Scotiabank raised their price target on shares of New Gold from $2.75 to $3.25 and gave the company a “sector outperform” rating in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada raised their price target on shares of New Gold from $3.00 to $3.50 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $3.41.

About New Gold

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.