Dimensional Fund Advisors LP Boosts Holdings in New Gold Inc. (NYSE:NGD)

Dimensional Fund Advisors LP lifted its holdings in New Gold Inc. (NYSE:NGD - Free Report) by 9.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,394,885 shares of the company's stock after buying an additional 200,799 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.30% of New Gold worth $4,670,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NGD. Quadrature Capital Ltd grew its position in New Gold by 205.3% in the 4th quarter. Quadrature Capital Ltd now owns 1,635,733 shares of the company's stock worth $2,374,000 after purchasing an additional 1,099,933 shares during the period. Edmond DE Rothschild Holding S.A. bought a new position in New Gold in the first quarter valued at about $1,074,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of New Gold during the 2nd quarter valued at about $458,000. Headlands Technologies LLC purchased a new stake in shares of New Gold during the 2nd quarter valued at about $366,000. Finally, Acadian Asset Management LLC increased its holdings in New Gold by 1,210.3% during the second quarter. Acadian Asset Management LLC now owns 1,203,908 shares of the company's stock valued at $2,342,000 after buying an additional 1,112,030 shares during the last quarter. 42.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NGD shares. Scotiabank boosted 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, September 17th. StockNews.com raised New Gold from a "hold" rating to a "buy" rating in a research note on Tuesday, October 1st. CIBC boosted their price objective on New Gold from $3.00 to $3.40 and gave the company an "outperformer" rating in a research note on Wednesday, July 10th. Royal Bank of Canada increased their target price on shares of New Gold from $3.00 to $3.50 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Finally, Cibc World Mkts upgraded shares of New Gold to a "strong-buy" rating in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $2.74.

New Gold Stock Performance

NGD traded up $0.06 during trading on Thursday, reaching $2.80. 10,787,181 shares of the company traded hands, compared to its average volume of 8,035,480. The stock has a market capitalization of $2.21 billion, a P/E ratio of -28.00 and a beta of 1.30. The company has a current ratio of 1.50, a quick ratio of 0.98 and a debt-to-equity ratio of 0.52. New Gold Inc. has a 12-month low of $1.00 and a 12-month high of $3.25. The business's fifty day simple moving average is $2.65.

New Gold (NYSE:NGD - Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported $0.02 earnings per share for the quarter, beating 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, sell-side analysts expect that New Gold Inc. will post 0.15 earnings per share for the current fiscal year.

New Gold 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.