SG Americas Securities LLC Increases Stock Holdings in New Gold Inc. (NYSE:NGD)

SG Americas Securities LLC boosted its position in New Gold Inc. (NYSE:NGD) by 49.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 145,990 shares of the company’s stock after purchasing an additional 48,614 shares during the quarter. SG Americas Securities LLC’s holdings in New Gold were worth $420,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in New Gold in the 4th quarter worth about $206,000. Van ECK Associates Corp raised its stake in New Gold by 8.4% during the 1st quarter. Van ECK Associates Corp now owns 72,499,714 shares of the company’s stock valued at $123,249,000 after purchasing an additional 5,613,145 shares during the period. Moloney Securities Asset Management LLC bought a new stake in New Gold during the 1st quarter valued at approximately $42,000. Oppenheimer & Close LLC increased its stake in New Gold by 99.9% in the 1st quarter. Oppenheimer & Close LLC now owns 1,692,870 shares of the company’s stock worth $2,878,000 after acquiring an additional 846,000 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in New Gold in the 1st quarter worth approximately $1,074,000. Institutional investors own 42.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. StockNews.com downgraded New Gold from a “buy” rating to a “hold” rating in a research report on Thursday. CIBC boosted their target price on New Gold from $3.00 to $3.40 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Scotiabank boosted their target price on New Gold from $2.75 to $3.25 and gave the company a “sector outperform” rating in a research report on Tuesday, September 17th. Cibc World Mkts upgraded New Gold to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, Royal Bank of Canada boosted their price objective on New Gold from $3.00 to $3.50 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $2.74.

New Gold Trading Down 1.7 %

Shares of NGD stock opened at $2.88 on Friday. New Gold Inc. has a twelve month low of $1.03 and a twelve month high of $3.25. The stock has a market cap of $2.28 billion, a PE ratio of -28.80 and a beta of 1.30. The stock has a fifty day moving average price of $2.73. 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 (NYSE:NGD) last issued its 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. New Gold had a positive return on equity of 5.22% and a negative net margin of 2.53%. The business had revenue of $218.20 million during the quarter. Research analysts predict that New Gold Inc. will post 0.15 EPS for the current fiscal year.

New Gold 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.