Virtu Financial LLC Purchases Shares of 141,046 New Gold Inc. (NYSE:NGD)

Virtu Financial LLC bought a new position in shares of New Gold Inc. (NYSE:NGD) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 141,046 shares of the company’s stock, valued at approximately $206,000.

Several other hedge funds have also modified their holdings of the company. HC Advisors LLC boosted its stake in shares of New Gold by 13.4% during the 4th quarter. HC Advisors LLC now owns 214,559 shares of the company’s stock worth $313,000 after acquiring an additional 25,300 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of New Gold by 1.0% during the 3rd quarter. American Century Companies Inc. now owns 5,095,417 shares of the company’s stock worth $4,669,000 after acquiring an additional 48,886 shares in the last quarter. Ingalls & Snyder LLC boosted its stake in shares of New Gold by 116.6% during the 4th quarter. Ingalls & Snyder LLC now owns 123,842 shares of the company’s stock worth $181,000 after acquiring an additional 66,667 shares in the last quarter. Baader Bank Aktiengesellschaft boosted its stake in shares of New Gold by 812.7% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 91,267 shares of the company’s stock worth $132,000 after acquiring an additional 81,267 shares in the last quarter. Finally, Independent Family Office LLC purchased a new stake in shares of New Gold during the 4th quarter worth about $123,000. 42.82% of the stock is owned by hedge funds and other institutional investors.

New Gold Price Performance

NGD opened at $1.94 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.89 and a current ratio of 1.51. New Gold Inc. has a 1-year low of $0.86 and a 1-year high of $2.31. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -19.40 and a beta of 1.48.

New Gold (NYSE:NGD) last released its earnings results on Tuesday, April 30th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. New Gold had a negative net margin of 9.81% and a positive return on equity of 5.23%. The business had revenue of $192.10 million for the quarter. Equities research analysts anticipate that New Gold Inc. will post 0.12 EPS for the current year.

Analysts Set New Price Targets

NGD has been the topic of several recent analyst reports. CIBC raised shares of New Gold from a “neutral” rating to an “outperformer” rating and increased their target price for the stock from $2.10 to $3.00 in a research note on Monday, June 3rd. BMO Capital Markets began coverage on shares of New Gold in a research note on Friday, May 31st. They issued an “outperform” rating and a $3.50 price target on the stock. Cibc World Mkts raised shares of New Gold to a “strong-buy” rating in a research note on Monday, June 3rd. Scotiabank raised shares of New Gold from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $2.00 to $2.25 in a research note on Tuesday, May 21st. Finally, National Bank Financial raised shares of New Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 17th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, New Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $2.12.

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.