New Gold Inc. (NYSE:NGD) Shares Sold by U S Global Investors Inc.

U S Global Investors Inc. lessened its holdings in New Gold Inc. (NYSE:NGD - Free Report) by 16.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,513,026 shares of the company's stock after selling 480,805 shares during the period. New Gold comprises approximately 0.7% of U S Global Investors Inc.'s holdings, making the stock its 26th biggest holding. U S Global Investors Inc. owned about 0.32% of New Gold worth $7,238,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in NGD. Mackenzie Financial Corp raised its stake in shares of New Gold by 57.3% in the 2nd quarter. Mackenzie Financial Corp now owns 16,328,086 shares of the company's stock valued at $32,229,000 after acquiring an additional 5,948,394 shares during the period. Van ECK Associates Corp raised its stake in shares of New Gold by 8.4% in the 1st quarter. Van ECK Associates Corp now owns 72,499,714 shares of the company's stock valued at $123,249,000 after acquiring an additional 5,613,145 shares during the period. Renaissance Technologies LLC raised its stake in shares of New Gold by 13.5% in the 2nd quarter. Renaissance Technologies LLC now owns 20,111,264 shares of the company's stock valued at $39,217,000 after acquiring an additional 2,399,200 shares during the period. Herr Investment Group LLC raised its stake in shares of New Gold by 40.4% in the 2nd quarter. Herr Investment Group LLC now owns 5,210,363 shares of the company's stock valued at $10,160,000 after acquiring an additional 1,499,745 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of New Gold by 196.2% in the 2nd quarter. CIBC Asset Management Inc now owns 2,060,975 shares of the company's stock valued at $4,065,000 after acquiring an additional 1,365,089 shares during the period. Hedge funds and other institutional investors own 42.82% of the company's stock.

New Gold Stock Performance

Shares of NYSE NGD traded up $0.03 during midday trading on Tuesday, hitting $3.01. The company's stock had a trading volume of 6,911,351 shares, compared to its average volume of 8,046,006. New Gold Inc. has a 1-year low of $1.03 and a 1-year high of $3.25. The business has a fifty day simple moving average of $2.76. 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 firm has a market cap of $2.38 billion, a price-to-earnings ratio of -30.50 and a beta of 1.30.

New Gold (NYSE:NGD - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. New Gold had a negative net margin of 2.53% and a positive return on equity of 5.22%. The business had revenue of $218.20 million during the quarter. As a group, research analysts predict that New Gold Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NGD shares. Scotiabank lifted 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. Royal Bank of Canada lifted their price target on shares of New Gold from $3.00 to $3.50 and gave the stock an "outperform" rating in a research note on Tuesday, September 10th. Cibc World Mkts raised shares of New Gold to a "strong-buy" rating in a research report on Wednesday, July 10th. StockNews.com downgraded shares of New Gold from a "buy" rating to a "hold" rating in a research report on Thursday, October 17th. Finally, CIBC boosted their target price on shares of New Gold from $3.00 to $3.40 and gave the stock an "outperformer" rating in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, New Gold currently has a consensus rating of "Moderate Buy" and an average target price of $2.74.

About New Gold

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.