Schroder Investment Management Group raised its position in shares of New Gold Inc (NYSEAMERICAN:NGD) by 43.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,463,902 shares of the basic materials company’s stock after purchasing an additional 1,343,631 shares during the quarter. Schroder Investment Management Group owned 0.77% of New Gold worth $3,773,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in shares of New Gold by 65.6% in the third quarter. Russell Investments Group Ltd. now owns 14,972,656 shares of the basic materials company’s stock worth $11,846,000 after buying an additional 5,931,628 shares during the last quarter. Exor Investments UK LLP boosted its stake in shares of New Gold by 43.0% in the third quarter. Exor Investments UK LLP now owns 16,717,997 shares of the basic materials company’s stock worth $13,262,000 after buying an additional 5,028,121 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of New Gold by 3.4% in the second quarter. Van ECK Associates Corp now owns 83,504,329 shares of the basic materials company’s stock worth $173,690,000 after buying an additional 2,752,495 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of New Gold by 1,455.2% in the second quarter. Renaissance Technologies LLC now owns 2,891,034 shares of the basic materials company’s stock worth $6,015,000 after buying an additional 2,705,134 shares during the last quarter. Finally, Intact Investment Management Inc. purchased a new stake in shares of New Gold in the third quarter worth about $2,500,000. Institutional investors and hedge funds own 51.53% of the company’s stock.
A number of analysts have recently commented on NGD shares. Raymond James set a $1.25 target price on New Gold and gave the stock a “market perform” rating in a research note on Friday, October 26th. Zacks Investment Research upgraded New Gold from a “strong sell” rating to a “hold” rating in a research note on Friday, October 26th. BMO Capital Markets restated a “hold” rating on shares of New Gold in a research note on Thursday, November 1st. Royal Bank of Canada downgraded New Gold from a “sector perform” rating to an “underperform” rating and lowered their target price for the stock from $3.50 to $1.40 in a research note on Wednesday, August 15th. Finally, National Bank Financial reaffirmed a “hold” rating on shares of New Gold in a report on Monday, November 12th. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. New Gold currently has an average rating of “Hold” and an average price target of $1.87.
NYSEAMERICAN NGD opened at $0.86 on Friday. New Gold Inc has a twelve month low of $0.69 and a twelve month high of $3.56.
New Gold (NYSEAMERICAN:NGD) last released its quarterly earnings results on Wednesday, October 24th. The basic materials company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $147.10 million during the quarter, compared to analyst estimates of $189.47 million.
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New Gold Company Profile
New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the New Afton project located near Kamloops, British Columbia, Canada; the Mesquite mine located in Imperial County, California, the United States; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.
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