Schroder Investment Management Group raised its position in shares of New Gold Inc (NYSEAMERICAN:NGD) by 43.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,463,902 shares of the basic materials company’s stock after buying an additional 1,343,631 shares during the period. Schroder Investment Management Group’s holdings in New Gold were worth $3,773,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Manhattan Co. boosted its position in shares of New Gold by 1,245.5% during the third quarter. First Manhattan Co. now owns 714,450 shares of the basic materials company’s stock worth $566,000 after buying an additional 661,350 shares during the period. Exor Investments UK LLP boosted its position in shares of New Gold by 43.0% during the third quarter. Exor Investments UK LLP now owns 16,717,997 shares of the basic materials company’s stock worth $13,262,000 after buying an additional 5,028,121 shares during the period. Global X Management Co LLC boosted its position in shares of New Gold by 38.8% during the second quarter. Global X Management Co LLC now owns 721,946 shares of the basic materials company’s stock worth $1,504,000 after buying an additional 201,824 shares during the period. OppenheimerFunds Inc. raised its stake in shares of New Gold by 135.5% in the second quarter. OppenheimerFunds Inc. now owns 2,590,000 shares of the basic materials company’s stock valued at $5,387,000 after acquiring an additional 1,490,000 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of New Gold by 35.9% in the third quarter. Bank of Montreal Can now owns 7,629,428 shares of the basic materials company’s stock valued at $6,052,000 after acquiring an additional 2,014,172 shares in the last quarter. Institutional investors and hedge funds own 51.53% of the company’s stock.
Shares of NYSEAMERICAN NGD opened at $0.86 on Friday. New Gold Inc has a 12-month low of $0.69 and a 12-month high of $3.56.
New Gold (NYSEAMERICAN:NGD) last announced its quarterly earnings data on Wednesday, October 24th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. The company had revenue of $147.10 million during the quarter, compared to analyst estimates of $189.47 million.
Several brokerages have recently issued reports on NGD. Zacks Investment Research cut New Gold from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 20th. Royal Bank of Canada cut New Gold from a “sector perform” rating to an “underperform” rating and reduced their price objective for the company from $3.50 to $1.40 in a research note on Wednesday, August 15th. Canaccord Genuity upgraded New Gold from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. National Bank Financial reiterated a “hold” rating on shares of New Gold in a research note on Monday, November 12th. Finally, BMO Capital Markets reiterated a “hold” rating on shares of New Gold in a research note on Thursday, November 1st. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $1.87.
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New Gold Company Profile
New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the New Afton project located near Kamloops, British Columbia, Canada; the Mesquite mine located in Imperial County, California, the United States; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.
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