Herr Investment Group LLC Buys 1,499,745 Shares of New Gold Inc. (NYSE:NGD)

Herr Investment Group LLC lifted its holdings in shares of New Gold Inc. (NYSE:NGD - Free Report) by 40.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 5,210,363 shares of the company's stock after acquiring an additional 1,499,745 shares during the period. New Gold makes up about 0.7% of Herr Investment Group LLC's investment portfolio, making the stock its 12th biggest position. Herr Investment Group LLC owned 0.66% of New Gold worth $10,160,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC lifted its holdings in New Gold by 15.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 47,722 shares of the company's stock valued at $93,000 after purchasing an additional 6,252 shares during the last quarter. Old West Investment Management LLC bought a new position in New Gold during the 2nd quarter valued at about $1,365,000. Pekin Hardy Strauss Inc. bought a new position in New Gold during the 2nd quarter valued at about $356,000. Renaissance Technologies LLC lifted its holdings 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, Dimensional Fund Advisors LP lifted its holdings in New Gold by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,394,885 shares of the company's stock valued at $4,670,000 after purchasing an additional 200,799 shares during the last quarter. 42.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NGD. StockNews.com downgraded shares of New Gold from a "buy" rating to a "hold" rating in a report on Friday, September 13th. Scotiabank raised their price objective on shares of New Gold from $2.75 to $3.25 and gave the company a "sector outperform" rating in a research report on Tuesday. BMO Capital Markets started coverage on shares of New Gold in a research report on Friday, May 31st. They issued an "outperform" rating and a $3.50 price objective for the company. Cibc World Mkts upgraded shares of New Gold to a "strong-buy" rating in a research report on Wednesday, July 10th. Finally, CIBC raised their price objective on shares of New Gold from $3.00 to $3.40 and gave the company an "outperformer" rating in a research report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $2.74.

New Gold Trading Up 2.0 %

Shares of NYSE:NGD traded up $0.06 during trading on Friday, hitting $3.11. 16,750,482 shares of the company's stock were exchanged, compared to its average volume of 7,934,295. New Gold Inc. has a 1-year low of $0.86 and a 1-year high of $3.20. The company's 50-day moving average is $2.44. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.50. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of -31.10 and a beta of 1.29.

New Gold (NYSE:NGD - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $218.20 million during the quarter. New Gold had a negative net margin of 2.53% and a positive return on equity of 5.22%. As a group, research analysts predict that New Gold Inc. will post 0.14 EPS for the current 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.