Two Sigma Advisers LP Has $12.45 Million Stock Holdings in New Gold Inc. (NYSE:NGD)

Two Sigma Advisers LP boosted its stake in New Gold Inc. (NYSE:NGD - Free Report) by 18.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,322,930 shares of the company's stock after purchasing an additional 681,822 shares during the quarter. Two Sigma Advisers LP owned about 0.55% of New Gold worth $12,450,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NGD. Scientech Research LLC bought a new stake in shares of New Gold in the second quarter worth about $28,000. Allworth Financial LP increased its holdings in shares of New Gold by 941.8% in the third 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. Eastern Bank bought a new stake in shares of New Gold in the third quarter worth about $33,000. Rathbones Group PLC bought a new stake in shares of New Gold in the second quarter worth about $36,000. Finally, NorthCrest Asset Manangement LLC bought a new stake in shares of New Gold in the third quarter worth about $58,000. Institutional investors own 42.82% of the company's stock.

New Gold Stock Up 0.3 %

Shares of NYSE:NGD traded up $0.01 during mid-day trading on Tuesday, reaching $2.91. 9,213,764 shares of the stock were exchanged, compared to its average volume of 8,242,692. 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 company has a market cap of $2.30 billion, a P/E ratio of 147.50 and a beta of 1.32. New Gold Inc. has a one year low of $1.09 and a one year high of $3.25. The stock's 50 day simple moving average is $2.80 and its 200-day simple moving average is $2.50.

New Gold (NYSE:NGD - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.04. New Gold had a return on equity of 9.38% and a net margin of 2.33%. The business had revenue of $252.00 million during the quarter. As a group, equities research analysts predict that New Gold Inc. will post 0.18 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on NGD shares. Scotiabank increased their price target 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 increased their price target on New Gold from $3.00 to $3.50 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Finally, StockNews.com upgraded New Gold from a "hold" rating to a "buy" rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, New Gold presently has an average rating of "Buy" and a consensus price target of $3.41.

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.