Blue Trust Inc. Buys New Shares in New Gold Inc. $NGD

Blue Trust Inc. purchased a new position in shares of New Gold Inc. (NYSE:NGD) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 78,193 shares of the company’s stock, valued at approximately $561,000.

Other large investors also recently modified their holdings of the company. Corient Private Wealth LLC bought a new stake in shares of New Gold during the 2nd quarter worth approximately $278,000. Osaic Holdings Inc. increased its holdings in New Gold by 182.8% during the second quarter. Osaic Holdings Inc. now owns 19,371 shares of the company’s stock worth $87,000 after buying an additional 12,521 shares during the last quarter. Coppell Advisory Solutions LLC bought a new stake in New Gold during the second quarter worth $133,000. State of Wyoming lifted its stake in New Gold by 32.1% in the second quarter. State of Wyoming now owns 26,600 shares of the company’s stock valued at $132,000 after acquiring an additional 6,465 shares during the last quarter. Finally, FORA Capital LLC lifted its stake in New Gold by 111.8% in the second quarter. FORA Capital LLC now owns 320,208 shares of the company’s stock valued at $1,585,000 after acquiring an additional 169,040 shares during the last quarter. 42.82% of the stock is currently owned by institutional investors and hedge funds.

New Gold Trading Up 2.8%

Shares of NGD stock opened at $9.33 on Monday. New Gold Inc. has a 12-month low of $2.43 and a 12-month high of $9.59. The company has a market capitalization of $7.39 billion, a PE ratio of 71.77 and a beta of 0.65. The firm has a 50 day moving average price of $7.58 and a two-hundred day moving average price of $6.29. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38.

Wall Street Analyst Weigh In

NGD has been the topic of a number of research analyst reports. National Bankshares reaffirmed an “outperform” rating on shares of New Gold in a report on Thursday, October 30th. Raymond James Financial reissued a “market perform” rating and set a $7.00 price target on shares of New Gold in a research report on Friday, October 10th. TD Securities upgraded New Gold from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Monday, December 1st. CIBC lifted their target price on New Gold from $6.50 to $9.50 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Finally, Scotiabank boosted their target price on New Gold from $5.50 to $8.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $7.38.

New Gold Profile

New Gold Inc is a Canadian-based intermediate precious metals producer focused on the exploration, development and operation of gold and copper mining assets. The company was formed in 2008 through the merger of two exploration firms and has since grown into a multi-asset mining platform. Headquartered in Toronto, New Gold emphasizes a disciplined approach to capital allocation and operational execution, with a commitment to environmental stewardship and strong community relations.

New Gold’s principal producing assets include the New Afton Mine in British Columbia and the Rainy River Mine in northwestern Ontario.