Banque Cantonale Vaudoise Sells 11,412 Shares of New Gold Inc. (NYSE:NGD)

Banque Cantonale Vaudoise decreased its position in shares of New Gold Inc. (NYSE:NGD) by 25.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,298 shares of the company’s stock after selling 11,412 shares during the quarter. Banque Cantonale Vaudoise’s holdings in New Gold were worth $97,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NGD. Mackenzie Financial Corp raised its holdings in New Gold by 57.3% during the 2nd quarter. Mackenzie Financial Corp now owns 16,328,086 shares of the company’s stock worth $32,229,000 after purchasing an additional 5,948,394 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of 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 acquiring an additional 3,541,882 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of New Gold by 13.5% in the 2nd quarter. Renaissance Technologies LLC now owns 20,111,264 shares of the company’s stock valued at $39,217,000 after acquiring an additional 2,399,200 shares in the last quarter. Herr Investment Group LLC increased its stake in shares of New Gold by 40.4% in the 2nd quarter. Herr Investment Group LLC now owns 5,210,363 shares of the company’s stock valued at $10,160,000 after acquiring an additional 1,499,745 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of New Gold by 196.2% in the 2nd quarter. CIBC Asset Management Inc now owns 2,060,975 shares of the company’s stock valued at $4,065,000 after acquiring an additional 1,365,089 shares in the last quarter. Institutional investors own 42.82% of the company’s stock.

New Gold Stock Performance

Shares of NGD stock opened at $2.84 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $2.24 billion, a PE ratio of 141.75 and a beta of 1.31. The firm has a fifty day simple moving average of $2.86 and a two-hundred day simple moving average of $2.42. New Gold Inc. has a 12 month low of $1.09 and a 12 month high of $3.25.

New Gold (NYSE:NGD) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. The firm had revenue of $252.00 million for the quarter. New Gold had a net margin of 2.33% and a return on equity of 9.38%. Analysts forecast that New Gold Inc. will post 0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NGD. Scotiabank lifted their price objective on shares of New Gold from $2.75 to $3.25 and gave the company a “sector outperform” rating in a research note on Tuesday, September 17th. Royal Bank of Canada lifted their price objective on shares of New Gold from $3.00 to $3.50 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, StockNews.com upgraded shares of New Gold from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, New Gold presently has a consensus rating of “Buy” and a consensus price target of $3.08.

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.