National Bank of Canada FI Raises Stake in New Gold Inc. (NYSE:NGD)

National Bank of Canada FI lifted its holdings in shares of New Gold Inc. (NYSE:NGD - Free Report) by 22.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,374,142 shares of the company's stock after purchasing an additional 442,527 shares during the quarter. National Bank of Canada FI owned about 0.30% of New Gold worth $6,844,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Morton Capital Management LLC CA increased 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 valued at $91,000 after acquiring an additional 5,000 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in New Gold by 15.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 47,722 shares of the company's stock worth $93,000 after purchasing an additional 6,252 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of New Gold by 17.6% in the third quarter. Captrust Financial Advisors now owns 44,700 shares of the company's stock valued at $129,000 after buying an additional 6,700 shares in the last quarter. Kohmann Bosshard Financial Services LLC raised its holdings in shares of New Gold by 34.6% in the 3rd quarter. Kohmann Bosshard Financial Services LLC now owns 35,000 shares of the company's stock valued at $101,000 after buying an additional 9,000 shares during the period. Finally, Allworth Financial LP lifted its stake in New Gold by 941.8% during the 3rd quarter. Allworth Financial LP now owns 10,418 shares of the company's stock worth $30,000 after acquiring an additional 9,418 shares in the last quarter. 42.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Scotiabank boosted their price target on shares of 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 raised 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 target price on New Gold from $3.00 to $3.50 and gave the stock an "outperform" rating in a research note on Tuesday, September 10th. One 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 stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $3.41.

New Gold Stock Down 6.8 %

NGD traded down $0.21 on Thursday, reaching $2.87. The company's stock had a trading volume of 11,119,944 shares, compared to its average volume of 8,253,557. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 143.50 and a beta of 1.32. New Gold Inc. has a fifty-two week low of $1.09 and a fifty-two week high of $3.25. The company has a quick ratio of 0.84, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average of $2.80 and a two-hundred day moving average of $2.51.

New Gold (NYSE:NGD - Get Free Report) last issued its 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. New Gold had a net margin of 2.33% and a return on equity of 9.38%. The business had revenue of $252.00 million during the quarter. As a group, analysts forecast that New Gold Inc. will post 0.18 EPS for the current fiscal year.

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.