DORCHESTER WEALTH MANAGEMENT Co Makes New $592,000 Investment in New Gold Inc. (NYSE:NGD)

DORCHESTER WEALTH MANAGEMENT Co bought a new position in New Gold Inc. (NYSE:NGD - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 205,600 shares of the company's stock, valued at approximately $592,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NGD. Morton Capital Management LLC CA increased its stake in New Gold by 23.3% in the 2nd quarter. Morton Capital Management LLC CA now owns 26,494 shares of the company's stock worth $52,000 after acquiring an additional 5,000 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of New Gold by 15.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 47,722 shares of the company's stock valued at $93,000 after buying an additional 6,252 shares during the last quarter. Kohmann Bosshard Financial Services LLC grew its position in 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 acquiring an additional 9,000 shares during the last quarter. Eastern Bank bought a new stake in New Gold during the 3rd quarter valued at about $33,000. Finally, Cubist Systematic Strategies LLC boosted its position in New Gold by 7.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 179,209 shares of the company's stock valued at $354,000 after buying an additional 11,995 shares during the period. Institutional investors own 42.82% of the company's stock.

New Gold Stock Performance

NGD stock traded up $0.01 during trading on Thursday, reaching $2.93. 8,837,875 shares of the company traded hands, compared to its average volume of 8,059,456. The company has a market capitalization of $2.32 billion, a P/E ratio of -29.30 and a beta of 1.30. The company has a quick ratio of 0.98, a current ratio of 1.50 and a debt-to-equity ratio of 0.52. The company's 50 day moving average price is $2.79. New Gold Inc. has a 12 month low of $1.03 and a 12 month high of $3.25.

New Gold (NYSE:NGD - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.02 EPS for the quarter, topping 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 firm had revenue of $218.20 million during the quarter. As a group, research analysts forecast that New Gold Inc. will post 0.15 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on NGD. StockNews.com lowered shares of New Gold from a "buy" rating to a "hold" rating in a research report on Thursday, October 17th. CIBC lifted their target price on New Gold from $3.00 to $3.40 and gave the company an "outperformer" rating in a research report on Wednesday, July 10th. Scotiabank upped their target price on New Gold from $2.75 to $3.25 and gave the stock a "sector outperform" rating in a report on Tuesday, September 17th. Royal Bank of Canada lifted their price objective on New Gold from $3.00 to $3.50 and gave the company an "outperform" rating in a report on Tuesday, September 10th. Finally, Cibc World Mkts raised shares of New Gold to a "strong-buy" rating in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $2.74.

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.