CSM Advisors LLC Lowers Position in New Gold Inc. $NGD

CSM Advisors LLC decreased its holdings in shares of New Gold Inc. (NYSE:NGD) by 14.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,096,727 shares of the company’s stock after selling 180,331 shares during the period. CSM Advisors LLC owned 0.14% of New Gold worth $7,875,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Van ECK Associates Corp lifted its position in shares of New Gold by 50.7% in the 3rd quarter. Van ECK Associates Corp now owns 72,796,146 shares of the company’s stock worth $522,678,000 after purchasing an additional 24,495,669 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in New Gold by 89.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 28,812,369 shares of the company’s stock valued at $143,011,000 after buying an additional 13,591,642 shares during the period. American Century Companies Inc. increased its holdings in New Gold by 8.2% during the third quarter. American Century Companies Inc. now owns 16,883,444 shares of the company’s stock valued at $120,985,000 after buying an additional 1,272,621 shares during the period. JPMorgan Chase & Co. raised its stake in New Gold by 16.5% in the third quarter. JPMorgan Chase & Co. now owns 13,357,047 shares of the company’s stock worth $95,904,000 after buying an additional 1,891,468 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in New Gold by 1,531.2% in the third quarter. Vanguard Group Inc. now owns 11,468,982 shares of the company’s stock worth $82,164,000 after buying an additional 10,765,902 shares in the last quarter. Institutional investors own 42.82% of the company’s stock.

New Gold Trading Down 6.9%

NYSE NGD opened at $9.98 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38. The firm has a market cap of $7.90 billion, a PE ratio of 76.78 and a beta of 0.57. The company has a 50 day moving average price of $11.18 and a 200 day moving average price of $8.65. New Gold Inc. has a 52 week low of $2.89 and a 52 week high of $13.63.

Analyst Ratings Changes

NGD has been the subject of a number of analyst reports. TD Securities upgraded New Gold from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Monday, December 1st. Scotiabank boosted their price target on New Gold to $12.75 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Finally, Zacks Research upgraded New Gold from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $8.18.

About New Gold

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.