New Gold Inc. (NYSE:NGD) Shares Acquired by Herr Investment Group LLC

Herr Investment Group LLC increased its holdings in New Gold Inc. (NYSE:NGD) by 40.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,210,363 shares of the company’s stock after purchasing an additional 1,499,745 shares during the quarter. New Gold accounts for about 0.7% of Herr Investment Group LLC’s holdings, making the stock its 12th largest holding. Herr Investment Group LLC owned 0.66% of New Gold worth $10,160,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NGD. TD Asset Management Inc lifted its stake in New Gold by 33.5% in the 4th quarter. TD Asset Management Inc now owns 4,694,483 shares of the company’s stock valued at $6,836,000 after buying an additional 1,178,194 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in New Gold during the 4th quarter worth $893,000. Quadrature Capital Ltd grew its holdings in shares of New Gold by 205.3% during the fourth quarter. Quadrature Capital Ltd now owns 1,635,733 shares of the company’s stock worth $2,374,000 after buying an additional 1,099,933 shares in the last quarter. Invenomic Capital Management LP lifted its stake in shares of New Gold by 19.6% in the fourth quarter. Invenomic Capital Management LP now owns 10,101,164 shares of the company’s stock worth $14,748,000 after buying an additional 1,654,396 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in New Gold during the fourth quarter worth about $206,000. 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 commented on the company. Scotiabank lifted their price objective on New Gold from $2.75 to $3.25 and gave the stock a “sector outperform” rating in a research report on Tuesday. StockNews.com downgraded shares of New Gold from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Cibc World Mkts raised shares of New Gold to a “strong-buy” rating in a research note on Wednesday, July 10th. CIBC lifted their price target on shares of New Gold from $3.00 to $3.40 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada raised their target price on New Gold from $3.00 to $3.50 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2.74.

New Gold Stock Performance

Shares of NGD stock opened at $3.07 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.50 and a debt-to-equity ratio of 0.52. New Gold Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $3.20. The firm has a market capitalization of $2.42 billion, a PE ratio of -30.65 and a beta of 1.29. The company has a 50 day simple moving average of $2.44.

New Gold (NYSE:NGD) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $218.20 million for the quarter. New Gold had a positive return on equity of 5.22% and a negative net margin of 2.53%. On average, research analysts forecast that New Gold Inc. will post 0.14 EPS for the current fiscal year.

New Gold Company 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.