JGP Global Gestao de Recursos Ltda. grew its stake in New Gold Inc. (NYSE:NGD - Free Report) by 27.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,500,000 shares of the company's stock after purchasing an additional 1,412,003 shares during the period. New Gold makes up about 36.7% of JGP Global Gestao de Recursos Ltda.'s portfolio, making the stock its biggest position. JGP Global Gestao de Recursos Ltda. owned about 0.82% of New Gold worth $16,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP boosted its position in shares of New Gold by 941.8% during the third quarter. Allworth Financial LP now owns 10,418 shares of the company's stock valued at $30,000 after buying an additional 9,418 shares during the period. Eastern Bank purchased a new position in New Gold during the 3rd quarter valued at $33,000. DGS Capital Management LLC bought a new position in New Gold in the 4th quarter valued at $30,000. NorthCrest Asset Manangement LLC purchased a new stake in New Gold in the third quarter worth $58,000. Finally, Morton Capital Management LLC CA lifted its position in shares of New Gold by 18.9% during the third quarter. Morton Capital Management LLC CA now owns 31,494 shares of the company's stock worth $91,000 after purchasing an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 42.82% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com raised shares of New Gold from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. One investment analyst has 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 presently has a consensus rating of "Buy" and a consensus target price of $3.41.
Check Out Our Latest Stock Report on NGD
New Gold Stock Down 3.9 %
Shares of New Gold stock traded down $0.12 during trading on Thursday, hitting $2.99. 11,912,919 shares of the stock traded hands, compared to its average volume of 11,564,748. 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 stock's fifty day simple moving average is $2.75 and its 200 day simple moving average is $2.68. The firm has a market cap of $2.36 billion, a P/E ratio of 149.50 and a beta of 1.36. New Gold Inc. has a 52-week low of $1.09 and a 52-week high of $3.25.
New Gold Company Profile
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Free Report)
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.
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