Scientech Research LLC Buys Shares of 14,353 New Gold Inc. (NYSE:NGD)

Scientech Research LLC bought a new stake in shares of New Gold Inc. (NYSE:NGD) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,353 shares of the company’s stock, valued at approximately $28,000.

Several other large investors also recently modified their holdings of NGD. Coppell Advisory Solutions Corp. bought a new position in shares of New Gold during the 1st quarter worth $30,000. Rathbones Group PLC purchased a new stake in New Gold during the second quarter valued at about $36,000. Moloney Securities Asset Management LLC bought a new position in New Gold during the first quarter worth about $42,000. Morton Capital Management LLC CA increased its stake in shares of New Gold by 23.3% in the second quarter. Morton Capital Management LLC CA now owns 26,494 shares of the company’s stock worth $52,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in shares of New Gold in the second quarter valued at approximately $87,000. Hedge funds and other institutional investors own 42.82% of the company’s stock.

New Gold Stock Up 2.8 %

New Gold stock opened at $2.96 on Wednesday. The stock has a market capitalization of $2.34 billion, a PE ratio of -29.60 and a beta of 1.29. 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 business’s 50-day simple moving average is $2.54. New Gold Inc. has a 52 week low of $0.86 and a 52 week high of $3.25.

New Gold (NYSE:NGD) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.02 earnings per share for the quarter, topping 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 company had revenue of $218.20 million for the quarter. On average, research analysts anticipate that New Gold Inc. will post 0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NGD shares. CIBC raised their price objective on shares of New Gold from $3.00 to $3.40 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank raised their price target on New Gold from $2.75 to $3.25 and gave the stock a “sector outperform” rating in a report on Tuesday, September 17th. StockNews.com upgraded New Gold from a “hold” rating to a “buy” rating in a research report on Tuesday. Cibc World Mkts raised New Gold to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, Royal Bank of Canada lifted their target price on New Gold from $3.00 to $3.50 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, New Gold has a consensus rating of “Buy” and a consensus price target of $2.74.

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.