Geode Capital Management LLC Has $1.08 Million Stake in New Gold Inc. (NYSE:NGD)

Geode Capital Management LLC raised its holdings in New Gold Inc. (NYSE:NGD) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 372,373 shares of the company’s stock after purchasing an additional 7,394 shares during the quarter. Geode Capital Management LLC’s holdings in New Gold were worth $1,084,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Scientech Research LLC acquired a new stake in shares of New Gold in the second quarter valued at approximately $28,000. Allworth Financial LP boosted its position in New Gold by 941.8% in the 3rd quarter. Allworth Financial LP now owns 10,418 shares of the company’s stock valued at $30,000 after buying an additional 9,418 shares during the last quarter. Eastern Bank acquired a new stake in shares of New Gold in the 3rd quarter valued at $33,000. Rathbones Group PLC bought a new stake in shares of New Gold during the second quarter worth $36,000. Finally, NorthCrest Asset Manangement LLC acquired a new position in shares of New Gold during the third quarter valued at $58,000. Institutional investors and hedge funds own 42.82% of the company’s stock.

New Gold Price Performance

Shares of NGD opened at $2.74 on Friday. 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 stock has a market cap of $2.17 billion, a P/E ratio of 137.00 and a beta of 1.34. The stock’s 50-day moving average price is $2.68 and its two-hundred day moving average price is $2.59. New Gold Inc. has a 1 year low of $1.09 and a 1 year high of $3.25.

New Gold (NYSE:NGD) last released its quarterly earnings data 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 net margin of 2.33% and a return on equity of 9.38%. The business had revenue of $252.00 million for the quarter. On average, equities analysts predict that New Gold Inc. will post 0.18 earnings per share for the current year.

Analyst Ratings Changes

NGD has been the subject of a number of research reports. 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, September 17th. StockNews.com raised shares of New Gold from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target 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.