Centiva Capital LP Acquires New Shares in New Gold Inc. (NYSE:NGD)

Centiva Capital LP purchased a new position in shares of New Gold Inc. (NYSE:NGD - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 206,770 shares of the company's stock, valued at approximately $595,000.

Other large investors also recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its holdings in New Gold by 57.3% in the 2nd quarter. Mackenzie Financial Corp now owns 16,328,086 shares of the company's stock worth $32,229,000 after acquiring an additional 5,948,394 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of New Gold by 5.0% in the third quarter. Van ECK Associates Corp now owns 73,884,631 shares of the company's stock worth $215,743,000 after purchasing an additional 3,541,882 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in New Gold by 9,360.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,692,614 shares of the company's stock valued at $7,755,000 after purchasing an additional 2,664,153 shares during the period. Renaissance Technologies LLC raised its position in New Gold by 13.5% during the 2nd quarter. Renaissance Technologies LLC now owns 20,111,264 shares of the company's stock valued at $39,217,000 after purchasing an additional 2,399,200 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC bought a new stake in shares of New Gold in the 3rd quarter worth approximately $4,787,000. Hedge funds and other institutional investors own 42.82% of the company's stock.

New Gold Stock Down 1.7 %

NGD traded down $0.05 during midday trading on Friday, reaching $2.82. The company's stock had a trading volume of 8,049,440 shares, compared to its average volume of 8,739,290. The stock's 50-day moving average is $2.79 and its 200-day moving average is $2.49. New Gold Inc. has a 1 year low of $1.09 and a 1 year high of $3.25. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 141.00 and a beta of 1.32. The company has a current ratio of 1.42, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

New Gold (NYSE:NGD - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $0.08 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 return on equity of 9.38% and a net margin of 2.33%. As a group, research analysts expect that New Gold Inc. will post 0.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NGD. Scotiabank raised their price target 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 upgraded shares of New Gold from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Finally, Royal Bank of Canada upped their target price on New Gold from $3.00 to $3.50 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $3.41.

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.