Moors & Cabot Inc. Has $159,000 Holdings in New Gold Inc. (NYSE:NGD)

Moors & Cabot Inc. trimmed its holdings in shares of New Gold Inc. (NYSE:NGD) by 14.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 55,250 shares of the company’s stock after selling 9,500 shares during the period. Moors & Cabot Inc.’s holdings in New Gold were worth $159,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co increased its holdings in shares of New Gold by 198.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 247,527 shares of the company’s stock valued at $416,000 after acquiring an additional 164,664 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new position in New Gold during the 1st quarter valued at $30,000. Virtu Financial LLC boosted its holdings in New Gold by 27.9% in the 1st quarter. Virtu Financial LLC now owns 180,386 shares of the company’s stock valued at $307,000 after purchasing an additional 39,340 shares during the period. Morton Capital Management LLC CA grew its position in New Gold by 23.3% in the 2nd 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 during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of New Gold during the 2nd quarter worth about $458,000. 42.82% of the stock is currently owned by institutional investors.

New Gold Stock Down 1.7 %

Shares of NYSE NGD opened at $2.83 on Monday. The firm has a 50 day moving average price of $2.86 and a 200 day moving average price of $2.43. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.42. The stock has a market cap of $2.24 billion, a P/E ratio of 141.50 and a beta of 1.31. New Gold Inc. has a 52-week low of $1.09 and a 52-week high of $3.25.

New Gold (NYSE:NGD) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.04. The company had revenue of $252.00 million during the quarter. New Gold had a net margin of 2.33% and a return on equity of 9.38%. Analysts expect that New Gold Inc. will post 0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Scotiabank increased their target price 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. StockNews.com upgraded New Gold from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada boosted their price objective on New Gold from $3.00 to $3.50 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, New Gold currently has an average rating of “Buy” and a consensus target price of $3.08.

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.