Sumitomo Mitsui Trust Holdings Inc. Purchases New Holdings in New Gold Inc. (NYSE:NGD)

Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in New Gold Inc. (NYSE:NGD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 235,075 shares of the company’s stock, valued at approximately $458,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Coppell Advisory Solutions Corp. bought a new position in New Gold in the first quarter valued at approximately $30,000. Moloney Securities Asset Management LLC bought a new position in New Gold in the first quarter valued at approximately $42,000. Morton Capital Management LLC CA boosted its stake in New Gold by 23.3% in the second quarter. Morton Capital Management LLC CA now owns 26,494 shares of the company’s stock valued at $52,000 after acquiring an additional 5,000 shares during the last quarter. Baader Bank Aktiengesellschaft boosted its stake in 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 acquiring an additional 81,267 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in New Gold in the fourth quarter valued at approximately $206,000. Institutional investors and hedge funds own 42.82% of the company’s stock.

New Gold Stock Up 0.6 %

Shares of NYSE NGD opened at $2.65 on Friday. The stock’s fifty day moving average price is $2.21. The company has a market capitalization of $2.09 billion, a PE ratio of -26.45 and a beta of 1.32. New Gold Inc. has a twelve month low of $0.86 and a twelve month high of $2.73. The company has a current ratio of 1.50, a quick ratio of 0.89 and a debt-to-equity ratio of 0.52.

New Gold (NYSE:NGD) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. New Gold had a negative net margin of 2.53% and a positive return on equity of 5.22%. The business had revenue of $218.20 million for the quarter. On average, research analysts anticipate that New Gold Inc. will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NGD. StockNews.com cut shares of New Gold from a “buy” rating to a “hold” rating in a research note on Saturday. BMO Capital Markets began coverage on shares of New Gold in a research note on Friday, May 31st. They issued an “outperform” rating and a $3.50 price objective on the stock. National Bank Financial raised shares of New Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 17th. TD Securities raised shares of New Gold from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, CIBC lifted their price target on shares of New Gold from $3.00 to $3.40 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $2.49.

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.