Vanguard Personalized Indexing Management LLC Acquires 6,252 Shares of New Gold Inc. (NYSE:NGD)

Vanguard Personalized Indexing Management LLC raised its holdings in New Gold Inc. (NYSE:NGD) by 15.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,722 shares of the company’s stock after buying an additional 6,252 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in New Gold were worth $93,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in shares of New Gold by 8.4% during the first quarter. Van ECK Associates Corp now owns 72,499,714 shares of the company’s stock worth $123,249,000 after purchasing an additional 5,613,145 shares during the period. Renaissance Technologies LLC increased its stake in shares of New Gold by 13.5% during the second quarter. Renaissance Technologies LLC now owns 20,111,264 shares of the company’s stock worth $39,217,000 after purchasing an additional 2,399,200 shares during the period. Invenomic Capital Management LP increased its stake in shares of New Gold by 19.6% during the fourth quarter. Invenomic Capital Management LP now owns 10,101,164 shares of the company’s stock worth $14,748,000 after purchasing an additional 1,654,396 shares during the period. TD Asset Management Inc increased its stake in shares of New Gold by 33.5% during the fourth quarter. TD Asset Management Inc now owns 4,694,483 shares of the company’s stock worth $6,836,000 after purchasing an additional 1,178,194 shares during the period. Finally, Herr Investment Group LLC increased its stake in shares of New Gold by 25.3% during the first quarter. Herr Investment Group LLC now owns 3,710,618 shares of the company’s stock worth $6,308,000 after purchasing an additional 750,000 shares during the period. Institutional investors own 42.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NGD. Royal Bank of Canada increased their target price on New Gold from $3.00 to $3.50 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Cibc World Mkts upgraded New Gold to a “strong-buy” rating in a research note on Wednesday, July 10th. CIBC increased their price target on New Gold from $3.00 to $3.40 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. StockNews.com raised New Gold from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Scotiabank increased their price target on 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 analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $2.74.

New Gold Stock Performance

Shares of NGD stock opened at $2.88 on Tuesday. The firm has a fifty day simple moving average of $2.54. The firm has a market cap of $2.28 billion, a P/E ratio of -28.80 and a beta of 1.29. New Gold Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $3.25. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.50.

New Gold (NYSE:NGD) last issued its earnings results on Tuesday, July 30th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $218.20 million for the quarter. New Gold had a positive return on equity of 5.22% and a negative net margin of 2.53%. On average, equities analysts predict that New Gold Inc. will post 0.15 EPS 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.