Rep. Debbie Wasserman Schultz Sells Off Shares of New Gold Inc. (NYSE:NGD)

Representative Debbie Wasserman Schultz (D-Florida) recently sold shares of New Gold Inc. (NYSE:NGD). In a filing disclosed on November 20th, the Representative disclosed that they had sold between $1,001 and $15,000 in New Gold stock on November 18th.

Representative Debbie Wasserman Schultz also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Baxter International (NYSE:BAX) on 11/18/2024.
• Purchased $1,001 – $15,000 in shares of Patterson-UTI Energy (NASDAQ:PTEN) on 10/23/2024.
• Purchased $1,001 – $15,000 in shares of Viasat (NASDAQ:VSAT) on 10/23/2024.

New Gold Stock Performance

Shares of NGD opened at $2.87 on Friday. The stock has a 50-day simple moving average of $2.86 and a 200-day simple moving average of $2.42. The stock has a market capitalization of $2.27 billion, a PE ratio of 144.00 and a beta of 1.31. New Gold Inc. has a 1 year low of $1.09 and a 1 year high of $3.25. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.42.

New Gold (NYSE:NGD) last released its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.04. New Gold had a return on equity of 9.38% and a net margin of 2.33%. The firm had revenue of $252.00 million for the quarter. On average, analysts predict that New Gold Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NGD. Scotiabank boosted their price target on New Gold from $2.75 to $3.25 and gave the stock a “sector outperform” rating in a research report on Tuesday, September 17th. StockNews.com upgraded New Gold from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada boosted their target price on New Gold from $3.00 to $3.50 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $3.08.

Hedge Funds Weigh In On New Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of NGD. Scientech Research LLC bought a new stake in shares of New Gold during the second quarter worth $28,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of New Gold during the first quarter valued at approximately $30,000. Allworth Financial LP increased its position in New Gold by 941.8% in the third quarter. Allworth Financial LP now owns 10,418 shares of the company’s stock worth $30,000 after buying an additional 9,418 shares during the last quarter. Eastern Bank purchased a new position in shares of New Gold in the third quarter valued at $33,000. Finally, Rathbones Group PLC bought a new stake in New Gold during the second quarter valued at $36,000. Institutional investors own 42.82% of the company’s stock.

About Representative Wasserman Schultz

Debbie Wasserman Schultz (Democratic Party) is a member of the U.S. House, representing Florida’s 25th Congressional District. She assumed office on January 3, 2023. Her current term ends on January 3, 2025. Wasserman Schultz (Democratic Party) is running for re-election to the U.S. House to represent Florida’s 25th Congressional District. She declared candidacy for the Democratic primary scheduled on August 20, 2024. Wasserman Schultz was first elected to the U.S. House in 2004 from District 20. She previously represented District 34 of the Florida State Senate from 2003 to 2004, District 32 of the Florida State Senate from 2001 to 2003, and District 97 of the Florida House of Representatives from 1993 to 2001. She served as one of the Chief Deputy Whips of the Democratic caucus for the 113th Congress. She also served as the chair of the Democratic National Committee. On July 24, 2016, Wasserman Schultz announced that she would resign her leadership position at the end of the party’s convention. Wasserman Schultz was considered a possible candidate in 2016 for U.S. Senate. However, she announced on March 17, 2015, that she would not seek the Senate seat and would instead run for re-election to the House. Debbie Wasserman Schultz was born in Forest Hills, New York. Wasserman Schultz graduated from Half Hollow Hills High School East in 1984. She earned a B.A. and M.A. from the University of Florida in 1988 and 1990, respectively. Wasserman Schultz’s career experience includes working as a staffer to former U.S. Representative Peter Deutsch.

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.