99,495 Shares in New Gold Inc. (NYSE:NGD) Purchased by Walleye Capital LLC

Walleye Capital LLC acquired a new position in New Gold Inc. (NYSE:NGD) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 99,495 shares of the company’s stock, valued at approximately $287,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Morton Capital Management LLC CA increased its position in New Gold by 18.9% in the third quarter. Morton Capital Management LLC CA now owns 31,494 shares of the company’s stock worth $91,000 after purchasing an additional 5,000 shares during the period. Vanguard Personalized Indexing Management LLC grew 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 buying an additional 6,252 shares during the period. Kohmann Bosshard Financial Services LLC grew its position in shares of New Gold by 34.6% during the 3rd quarter. Kohmann Bosshard Financial Services LLC now owns 35,000 shares of the company’s stock worth $101,000 after buying an additional 9,000 shares during the period. Allworth Financial LP grew its position in shares of New Gold by 941.8% during the 3rd 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 period. Finally, Eastern Bank acquired a new position in shares of New Gold during the 3rd quarter worth about $33,000. 42.82% of the stock is currently owned by institutional investors and hedge funds.

New Gold Stock Performance

Shares of NGD stock opened at $2.92 on Wednesday. The business’s 50-day moving average price is $2.79 and its 200-day moving average price is $2.51. New Gold Inc. has a 12 month low of $1.09 and a 12 month high of $3.25. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 145.75 and a beta of 1.32. The company has a current ratio of 1.42, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

New Gold (NYSE:NGD) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. New Gold had a return on equity of 9.38% and a net margin of 2.33%. The company had revenue of $252.00 million for the quarter. Equities research analysts forecast that New Gold Inc. will post 0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. StockNews.com upgraded New Gold from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Royal Bank of Canada boosted their target price on New Gold from $3.00 to $3.50 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, 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 note on Tuesday, September 17th. One analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $3.41.

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.