Caprock Group LLC Makes New $11.10 Million Investment in New Gold Inc. $NGD

Caprock Group LLC acquired a new position in shares of New Gold Inc. (NYSE:NGD) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,545,627 shares of the company’s stock, valued at approximately $11,098,000.

A number of other hedge funds have also made changes to their positions in the business. Millennium Management LLC lifted its stake in New Gold by 91.1% during the first quarter. Millennium Management LLC now owns 1,792,631 shares of the company’s stock worth $6,642,000 after purchasing an additional 854,586 shares during the last quarter. NewEdge Advisors LLC increased its stake in New Gold by 99.1% in the first quarter. NewEdge Advisors LLC now owns 80,375 shares of the company’s stock valued at $298,000 after purchasing an additional 40,000 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in New Gold by 74.9% during the first quarter. Goldman Sachs Group Inc. now owns 6,448,313 shares of the company’s stock worth $23,923,000 after purchasing an additional 2,760,692 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of New Gold by 4.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 951,651 shares of the company’s stock worth $3,531,000 after buying an additional 40,995 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of New Gold by 17.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 83,525 shares of the company’s stock worth $413,000 after buying an additional 12,425 shares during the last quarter. Hedge funds and other institutional investors own 42.82% of the company’s stock.

Wall Street Analysts Forecast Growth

NGD has been the topic of a number of recent analyst reports. Scotiabank increased their target price on shares of New Gold to $12.75 and gave the company an “outperform” rating in a research report on Monday, January 26th. TD Securities upgraded New Gold from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Monday, December 1st. Zacks Research raised New Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, National Bankshares reiterated an “outperform” rating on shares of New Gold in a research note on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, New Gold has an average rating of “Buy” and an average price target of $8.18.

New Gold Price Performance

Shares of NYSE:NGD opened at $11.32 on Wednesday. New Gold Inc. has a one year low of $2.60 and a one year high of $13.63. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 87.08 and a beta of 0.59. The company has a 50-day simple moving average of $9.74 and a 200-day simple moving average of $7.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39.

New Gold Profile

New Gold Inc is a Canadian-based intermediate precious metals producer focused on the exploration, development and operation of gold and copper mining assets. The company was formed in 2008 through the merger of two exploration firms and has since grown into a multi-asset mining platform. Headquartered in Toronto, New Gold emphasizes a disciplined approach to capital allocation and operational execution, with a commitment to environmental stewardship and strong community relations.

New Gold’s principal producing assets include the New Afton Mine in British Columbia and the Rainy River Mine in northwestern Ontario.