Rathbones Group PLC Purchases Shares of 18,368 New Gold Inc. (NYSE:NGD)

Rathbones Group PLC purchased a new stake in New Gold Inc. (NYSE:NGD) during the second quarter, HoldingsChannel.com reports. The firm purchased 18,368 shares of the company’s stock, valued at approximately $36,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Coppell Advisory Solutions Corp. acquired a new position in New Gold in the first quarter valued at about $30,000. Moloney Securities Asset Management LLC acquired a new position in New Gold in the first quarter valued at about $42,000. 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. Banque Cantonale Vaudoise acquired a new position in New Gold in the second quarter valued at about $87,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in New Gold by 67.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 122,622 shares of the company’s stock valued at $242,000 after buying an additional 49,246 shares in the last quarter. 42.82% of the stock is currently owned by institutional investors and hedge funds.

New Gold Price Performance

NGD opened at $3.04 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.50. The company has a market capitalization of $2.40 billion, a P/E ratio of -30.35 and a beta of 1.29. The business’s 50 day simple moving average is $2.40. New Gold Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $3.20.

New Gold (NYSE:NGD) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts expect that New Gold Inc. will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NGD. TD Securities upgraded shares of New Gold from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. CIBC upped their target price 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. BMO Capital Markets began coverage on shares of New Gold in a research report on Friday, May 31st. They set an “outperform” rating and a $3.50 target price on the stock. 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. Finally, StockNews.com lowered shares of New Gold from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Three analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, New Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $2.74.

New Gold 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.