SG Americas Securities LLC Raises Stock Holdings in New Gold Inc. (NYSE:NGD)

SG Americas Securities LLC increased its stake in shares of New Gold Inc. (NYSE:NGD) by 49.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,990 shares of the company’s stock after purchasing an additional 48,614 shares during the quarter. SG Americas Securities LLC’s holdings in New Gold were worth $420,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of New Gold by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,394,885 shares of the company’s stock worth $4,670,000 after purchasing an additional 200,799 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of New Gold during the 1st quarter worth $1,074,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of New Gold during the 2nd quarter worth $458,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of New Gold during the 2nd quarter worth $356,000. Finally, Headlands Technologies LLC purchased a new stake in shares of New Gold during the 2nd quarter worth $366,000. 42.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Scotiabank upped their price objective on New Gold from $2.75 to $3.25 and gave the stock a “sector outperform” rating in a research note on Tuesday, September 17th. StockNews.com lowered New Gold from a “buy” rating to a “hold” rating in a research report on Thursday. Royal Bank of Canada upped their target price on New Gold from $3.00 to $3.50 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. CIBC upped their target price on New Gold from $3.00 to $3.40 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Cibc World Mkts raised New Gold to a “strong-buy” rating in a research report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2.74.

New Gold Stock Down 1.7 %

Shares of NGD opened at $2.88 on Friday. New Gold Inc. has a 52 week low of $1.03 and a 52 week high of $3.25. The company has a quick ratio of 0.98, a current ratio of 1.50 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $2.28 billion, a P/E ratio of -28.80 and a beta of 1.30. The business has a 50-day moving average of $2.73.

New Gold (NYSE:NGD) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company 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%. As a group, equities analysts anticipate that New Gold Inc. will post 0.15 EPS for the current fiscal year.

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.