National Bank of Canada FI grew its stake in New Gold Inc. (NYSE:NGD - Free Report) by 22.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,374,142 shares of the company's stock after acquiring an additional 442,527 shares during the quarter. National Bank of Canada FI owned about 0.30% of New Gold worth $6,844,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Two Sigma Advisers LP grew its stake in New Gold by 18.7% in the third quarter. Two Sigma Advisers LP now owns 4,322,930 shares of the company's stock valued at $12,450,000 after purchasing an additional 681,822 shares during the last quarter. Independent Family Office LLC purchased a new position in shares of New Gold in the 3rd quarter worth approximately $242,000. HighTower Advisors LLC grew its position in shares of New Gold by 505.1% in the 3rd quarter. HighTower Advisors LLC now owns 111,360 shares of the company's stock worth $320,000 after buying an additional 92,956 shares during the last quarter. Centiva Capital LP bought a new position in shares of New Gold during the 3rd quarter worth approximately $595,000. Finally, ArrowMark Colorado Holdings LLC purchased a new stake in New Gold during the third quarter valued at approximately $4,787,000. 42.82% of the stock is owned by institutional investors.
New Gold stock opened at $3.07 on Thursday. 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 market cap of $2.43 billion, a PE ratio of 153.50 and a beta of 1.32. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.42. The business's 50-day simple moving average is $2.80 and its two-hundred day simple moving average is $2.51.
New Gold (NYSE:NGD - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $252.00 million for the quarter. Equities analysts anticipate that New Gold Inc. will post 0.18 EPS for the current year.
A number of equities analysts have recently issued reports on the company. Royal Bank of Canada upped their price target on New Gold from $3.00 to $3.50 and gave the stock an "outperform" rating in a research report on Tuesday, September 10th. StockNews.com raised New Gold from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. Finally, Scotiabank raised their price target on New Gold from $2.75 to $3.25 and gave the stock a "sector outperform" rating in a report 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $3.41.
Read Our Latest Analysis on 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.
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