Virtu Financial LLC Acquires Shares of 326,770 New Gold Inc. (NYSE:NGD)

Virtu Financial LLC bought a new stake in New Gold Inc. (NYSE:NGD - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 326,770 shares of the company's stock, valued at approximately $941,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in New Gold during the second quarter valued at approximately $458,000. U S Global Investors Inc. raised its holdings in shares of New Gold by 3.3% during the 2nd quarter. U S Global Investors Inc. now owns 2,993,831 shares of the company's stock worth $6,260,000 after buying an additional 96,487 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of New Gold during the 2nd quarter worth $365,000. K.J. Harrison & Partners Inc acquired a new stake in New Gold in the second quarter valued at about $602,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in New Gold by 67.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 122,622 shares of the company's stock valued at $242,000 after acquiring an additional 49,246 shares during the last quarter. Institutional investors own 42.82% of the company's stock.

New Gold Trading Down 3.5 %

NGD traded down $0.10 during trading on Friday, reaching $2.77. 8,939,965 shares of the company's stock were exchanged, compared to its average volume of 8,256,914. The company has a current ratio of 1.42, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. New Gold Inc. has a one year low of $1.09 and a one year high of $3.25. The firm has a fifty day moving average price of $2.80 and a two-hundred day moving average price of $2.52. The stock has a market capitalization of $2.19 billion, a PE ratio of 138.50 and a beta of 1.32.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NGD shares. Scotiabank increased their target price on shares of 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 objective on shares of New Gold from $3.00 to $3.50 and gave the company an "outperform" rating in a research note on Tuesday, September 10th. Finally, StockNews.com raised shares of New Gold from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $3.41.

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.