New Gold Inc. (NYSE:NGD) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its position in shares of New Gold Inc. (NYSE:NGD) by 32.7% in the second quarter, Holdings Channel reports. The institutional investor owned 97,376 shares of the company’s stock after selling 47,400 shares during the quarter. SG Americas Securities LLC’s holdings in New Gold were worth $190,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NGD. Coppell Advisory Solutions Corp. acquired a new stake in shares of New Gold during the first quarter valued at about $30,000. Moloney Securities Asset Management LLC purchased a new stake in New Gold during the first quarter worth about $42,000. Baader Bank Aktiengesellschaft grew its holdings in shares of New Gold by 812.7% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 91,267 shares of the company’s stock valued at $132,000 after purchasing an additional 81,267 shares in the last quarter. Virtu Financial LLC purchased a new stake in New Gold during the 4th quarter worth approximately $206,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in New Gold by 198.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 247,527 shares of the company’s stock worth $416,000 after buying an additional 164,664 shares in the last quarter. Hedge funds and other institutional investors own 42.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Cibc World Mkts raised New Gold to a “strong-buy” rating in a research report on Wednesday, July 10th. TD Securities upgraded shares of New Gold from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. National Bank Financial raised New Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. CIBC increased their price objective on New Gold from $3.00 to $3.40 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Finally, BMO Capital Markets started coverage on shares of New Gold in a report on Friday, May 31st. They set an “outperform” rating and a $3.50 price objective on the stock. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $2.49.

New Gold Trading Up 0.8 %

Shares of NYSE NGD opened at $2.65 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.89 and a current ratio of 1.50. The stock has a market capitalization of $2.09 billion, a PE ratio of -26.50 and a beta of 1.32. The company has a 50 day moving average price of $2.21. New Gold Inc. has a twelve month low of $0.86 and a twelve month high of $2.73.

New Gold (NYSE:NGD) last announced its earnings results on Tuesday, July 30th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $218.20 million during the quarter. New Gold had a negative net margin of 2.53% and a positive return on equity of 5.22%. As a group, research analysts predict that New Gold Inc. will post 0.14 earnings per share for the current year.

New Gold Company Profile

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.