New Gold Inc. (NYSE:NGD) Shares Sold by Creative Planning

Creative Planning cut its stake in New Gold Inc. (NYSE:NGD) by 16.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,580 shares of the company’s stock after selling 4,151 shares during the period. Creative Planning’s holdings in New Gold were worth $59,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Morton Capital Management LLC CA grew its holdings in New Gold by 23.3% during the 2nd quarter. Morton Capital Management LLC CA now owns 26,494 shares of the company’s stock worth $52,000 after acquiring an additional 5,000 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of New Gold by 15.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 47,722 shares of the company’s stock worth $93,000 after purchasing an additional 6,252 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of New Gold by 7.2% during the second quarter. Cubist Systematic Strategies LLC now owns 179,209 shares of the company’s stock worth $354,000 after purchasing an additional 11,995 shares in the last quarter. Scientech Research LLC acquired a new position in shares of New Gold during the second quarter worth $28,000. Finally, Coppell Advisory Solutions Corp. purchased a new position in New Gold in the first quarter valued at $30,000. 42.82% of the stock is owned by institutional investors and hedge funds.

New Gold Stock Up 0.8 %

Shares of NYSE:NGD opened at $2.55 on Wednesday. New Gold Inc. has a fifty-two week low of $1.09 and a fifty-two week high of $3.25. The company has a current ratio of 1.42, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $2.84. The stock has a market capitalization of $2.02 billion, a P/E ratio of 127.50 and a beta of 1.31.

New Gold (NYSE:NGD) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. The company had revenue of $252.00 million for the quarter. New Gold had a return on equity of 9.38% and a net margin of 2.33%. On average, research analysts forecast that New Gold Inc. will post 0.17 EPS for the current year.

Analyst Ratings Changes

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

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.