JPMorgan Chase & Co. decreased its holdings in New Gold Inc. (NYSE:NGD - Free Report) by 46.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,343,005 shares of the company's stock after selling 2,057,900 shares during the quarter. JPMorgan Chase & Co. owned 0.30% of New Gold worth $6,748,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Scientech Research LLC bought a new position in New Gold during the second quarter valued at approximately $28,000. Allworth Financial LP lifted its holdings in shares of New Gold by 941.8% during the 3rd 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 shares of New Gold in the 3rd quarter worth $33,000. Rathbones Group PLC purchased a new position in shares of New Gold in the 2nd quarter worth $36,000. Finally, NorthCrest Asset Manangement LLC bought a new stake in shares of New Gold in the third quarter worth $58,000. Institutional investors own 42.82% of the company's stock.
New Gold Price Performance
Shares of NGD traded up $0.02 during mid-day trading on Thursday, reaching $2.75. The stock had a trading volume of 7,877,526 shares, compared to its average volume of 8,556,190. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 137.50 and a beta of 1.34. New Gold Inc. has a 12 month low of $1.09 and a 12 month high of $3.25. The business has a fifty day moving average of $2.68 and a 200 day moving average of $2.61. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.42.
New Gold (NYSE:NGD - Get Free Report) last issued its quarterly earnings results 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. New Gold had a return on equity of 9.38% and a net margin of 2.33%. The business had revenue of $252.00 million during the quarter. Equities analysts predict that New Gold Inc. will post 0.18 EPS for the current year.
Wall Street Analyst Weigh In
Separately, StockNews.com raised New Gold from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. One investment 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 company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $3.41.
Check Out Our Latest Stock Analysis on NGD
About New Gold
(
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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