Schroder Investment Management Group Lowers Stock Position in New Gold Inc. $NGD

Schroder Investment Management Group trimmed its holdings in New Gold Inc. (NYSE:NGD) by 7.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,746,464 shares of the company’s stock after selling 356,708 shares during the quarter. Schroder Investment Management Group’s holdings in New Gold were worth $32,940,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Employees Retirement System of Texas acquired a new stake in New Gold during the 2nd quarter worth $32,000. Wealth Enhancement Advisory Services LLC acquired a new position in New Gold in the third quarter valued at $41,000. MAI Capital Management acquired a new position in New Gold in the third quarter valued at $43,000. SBI Securities Co. Ltd. raised its holdings in shares of New Gold by 1,837.7% in the second quarter. SBI Securities Co. Ltd. now owns 8,933 shares of the company’s stock valued at $44,000 after buying an additional 8,472 shares during the last quarter. Finally, Wealthspire Advisors LLC purchased a new stake in shares of New Gold in the second quarter valued at about $50,000. Hedge funds and other institutional investors own 42.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NGD shares. Zacks Research raised New Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. TD Securities raised New Gold from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Monday, December 1st. Finally, Scotiabank increased their price objective on New Gold to $12.75 and gave the stock an “outperform” rating in a research report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $8.18.

New Gold Stock Down 4.1%

NGD opened at $11.05 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. The business has a 50 day simple moving average of $11.11 and a 200-day simple moving average of $8.58. The stock has a market capitalization of $8.75 billion, a P/E ratio of 85.01 and a beta of 0.56. New Gold Inc. has a 12 month low of $2.89 and a 12 month high of $13.63.

New Gold Profile

New Gold Inc is a Canadian-based intermediate precious metals producer focused on the exploration, development and operation of gold and copper mining assets. The company was formed in 2008 through the merger of two exploration firms and has since grown into a multi-asset mining platform. Headquartered in Toronto, New Gold emphasizes a disciplined approach to capital allocation and operational execution, with a commitment to environmental stewardship and strong community relations.

New Gold’s principal producing assets include the New Afton Mine in British Columbia and the Rainy River Mine in northwestern Ontario.