New Gold Inc. (NYSE:NGD) Shares Sold by Barclays PLC

Barclays PLC lessened its position in New Gold Inc. (NYSE:NGD) by 10.8% during the third quarter, Holdings Channel reports. The institutional investor owned 1,050,281 shares of the company’s stock after selling 127,009 shares during the quarter. Barclays PLC’s holdings in New Gold were worth $3,025,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in shares of New Gold by 9,360.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,692,614 shares of the company’s stock worth $7,755,000 after acquiring an additional 2,664,153 shares in the last quarter. XTX Topco Ltd grew its stake in New Gold by 294.7% during the 3rd quarter. XTX Topco Ltd now owns 488,959 shares of the company’s stock valued at $1,408,000 after acquiring an additional 365,079 shares in the last quarter. Van ECK Associates Corp increased its stake in New Gold by 5.0% in the 3rd 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 during the period. Dimensional Fund Advisors LP increased its stake in shares of New Gold by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,394,885 shares of the company’s stock worth $4,670,000 after acquiring an additional 200,799 shares during the last quarter. Finally, Old West Investment Management LLC raised its stake in shares of New Gold by 42.9% during the 3rd quarter. Old West Investment Management LLC now owns 1,000,000 shares of the company’s stock worth $2,880,000 after purchasing an additional 300,000 shares in the last quarter. 42.82% of the stock is owned by institutional investors and hedge funds.

New Gold Stock Performance

New Gold stock opened at $2.52 on Tuesday. The firm has a market capitalization of $1.99 billion, a P/E ratio of 126.00 and a beta of 1.32. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.84. The stock has a fifty day moving average price of $2.77 and a two-hundred day moving average price of $2.54. New Gold Inc. has a 52-week low of $1.09 and a 52-week high of $3.25.

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

Wall Street Analysts Forecast Growth

NGD has been the subject of several analyst reports. StockNews.com raised shares of New Gold from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Scotiabank raised their price objective on shares of New Gold from $2.75 to $3.25 and gave the stock a “sector outperform” rating in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada boosted their price target on New Gold from $3.00 to $3.50 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. One equities research analyst has 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 data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $3.41.

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.