Montrusco Bolton Investments Inc. trimmed its holdings in New Gold Inc. (NYSE:NGD - Free Report) by 4.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,242,547 shares of the company's stock after selling 265,213 shares during the period. Montrusco Bolton Investments Inc. owned approximately 0.66% of New Gold worth $13,086,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the business. Scientech Research LLC acquired a new position in New Gold during the second quarter worth $28,000. Allworth Financial LP lifted its stake in New Gold by 941.8% during the third quarter. Allworth Financial LP now owns 10,418 shares of the company's stock worth $30,000 after purchasing an additional 9,418 shares in the last quarter. DGS Capital Management LLC acquired a new position in New Gold during the fourth quarter worth $30,000. Eastern Bank acquired a new position in New Gold during the third quarter worth $33,000. Finally, NorthCrest Asset Manangement LLC acquired a new position in New Gold during the third quarter worth $58,000. 42.82% of the stock is currently owned by hedge funds and other institutional investors.
New Gold Stock Down 0.7 %
Shares of NYSE NGD traded down $0.02 during mid-day trading on Friday, hitting $3.02. The company had a trading volume of 14,024,035 shares, compared to its average volume of 8,834,512. The company has a market capitalization of $2.39 billion, a PE ratio of 151.00 and a beta of 1.34. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.84. New Gold Inc. has a 1-year low of $1.09 and a 1-year high of $3.25. The business's 50-day simple moving average is $2.72 and its 200 day simple moving average is $2.67.
New Gold (NYSE:NGD - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate 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%. On average, analysts predict that New Gold Inc. will post 0.18 earnings per share for the current year.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded New Gold from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, New Gold currently has a consensus rating of "Buy" and an average price target of $3.41.
Read Our Latest Stock Analysis on NGD
New Gold Company Profile
(
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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