BNP Paribas Financial Markets Has $7.76 Million Holdings in New Gold Inc. (NYSE:NGD)

BNP Paribas Financial Markets raised its holdings in New Gold Inc. (NYSE:NGD) by 9,360.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,692,614 shares of the company’s stock after purchasing an additional 2,664,153 shares during the period. BNP Paribas Financial Markets’ holdings in New Gold were worth $7,755,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NGD. Van ECK Associates Corp raised its position in shares of New Gold by 5.0% in the third quarter. Van ECK Associates Corp now owns 73,884,631 shares of the company’s stock valued at $215,743,000 after buying an additional 3,541,882 shares in the last quarter. Renaissance Technologies LLC raised its holdings in New Gold by 13.5% in the 2nd quarter. Renaissance Technologies LLC now owns 20,111,264 shares of the company’s stock valued at $39,217,000 after acquiring an additional 2,399,200 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of New Gold by 57.3% during the 2nd quarter. Mackenzie Financial Corp now owns 16,328,086 shares of the company’s stock valued at $32,229,000 after acquiring an additional 5,948,394 shares during the period. Herr Investment Group LLC grew its holdings in shares of New Gold by 40.4% during the 2nd quarter. Herr Investment Group LLC now owns 5,210,363 shares of the company’s stock worth $10,160,000 after purchasing an additional 1,499,745 shares in the last quarter. Finally, TD Asset Management Inc increased its position in shares of New Gold by 9.8% in the second quarter. TD Asset Management Inc now owns 4,129,508 shares of the company’s stock worth $8,148,000 after purchasing an additional 369,354 shares during the period. Institutional investors own 42.82% of the company’s stock.

New Gold Trading Down 1.1 %

NGD opened at $2.72 on Tuesday. The company’s 50 day moving average is $2.82 and its 200-day moving average is $2.46. The company has a market cap of $2.15 billion, a P/E ratio of 136.00 and a beta of 1.31. New Gold Inc. has a 1-year low of $1.09 and a 1-year high of $3.25. The company has a current ratio of 1.42, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

New Gold (NYSE:NGD) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.04. New Gold had a return on equity of 9.38% and a net margin of 2.33%. The company had revenue of $252.00 million for the quarter. Equities research analysts predict that New Gold Inc. will post 0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on NGD. Royal Bank of Canada upped their price objective on shares of New Gold from $3.00 to $3.50 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank increased their price target 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. Finally, StockNews.com raised shares of New Gold from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, New Gold presently has a consensus rating of “Buy” and a consensus target price of $3.41.

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.