Impala Asset Management LLC Acquires 92,000 Shares of New Gold Inc. (NYSE:NGD)

Impala Asset Management LLC boosted its holdings in New Gold Inc. (NYSE:NGD) by 9.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,092,000 shares of the company’s stock after acquiring an additional 92,000 shares during the quarter. New Gold accounts for about 1.9% of Impala Asset Management LLC’s investment portfolio, making the stock its 13th biggest position. Impala Asset Management LLC’s holdings in New Gold were worth $2,129,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Scientech Research LLC bought a new stake in New Gold in the second quarter valued at about $28,000. Coppell Advisory Solutions Corp. acquired a new position in New Gold in the first quarter valued at about $30,000. Rathbones Group PLC acquired a new position in New Gold in the second quarter valued at about $36,000. Moloney Securities Asset Management LLC acquired a new position in New Gold in the first quarter valued at about $42,000. Finally, Morton Capital Management LLC CA boosted its position 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 buying an additional 5,000 shares in the last quarter. Institutional investors own 42.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NGD shares. Royal Bank of Canada boosted their price target on shares of New Gold from $3.00 to $3.50 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. CIBC boosted their price target on shares of New Gold from $3.00 to $3.40 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Cibc World Mkts upgraded shares of New Gold to a “strong-buy” rating in a research report on Wednesday, July 10th. StockNews.com upgraded shares of New Gold from a “hold” rating to a “buy” rating in a research report on Saturday, September 21st. Finally, Scotiabank upped their target price on shares of New Gold from $2.75 to $3.25 and gave the stock a “sector outperform” rating in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $2.74.

New Gold Trading Down 4.5 %

Shares of NGD stock opened at $2.97 on Friday. New Gold Inc. has a 1 year low of $0.86 and a 1 year high of $3.25. The business’s 50 day moving average is $2.53. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -29.70 and a beta of 1.29. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.50 and a quick ratio of 0.98.

New Gold (NYSE:NGD) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate 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, equities research analysts forecast that New Gold Inc. will post 0.15 earnings per share for the current fiscal year.

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.