RFG Advisory LLC Purchases New Shares in New Gold Inc. $NGD

RFG Advisory LLC acquired a new position in shares of New Gold Inc. (NYSE:NGD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 255,358 shares of the company’s stock, valued at approximately $1,833,000.

Other hedge funds have also made changes to their positions in the company. Employees Retirement System of Texas purchased a new position in New Gold during the 2nd quarter worth approximately $32,000. Wealth Enhancement Advisory Services LLC purchased a new position in New Gold during the 3rd quarter valued at about $41,000. SBI Securities Co. Ltd. increased its stake in New Gold by 1,837.7% in the 2nd quarter. SBI Securities Co. Ltd. now owns 8,933 shares of the company’s stock valued at $44,000 after buying an additional 8,472 shares during the period. Wealthspire Advisors LLC acquired a new stake in shares of New Gold during the 2nd quarter valued at $50,000. Finally, Global Retirement Partners LLC grew its holdings in shares of New Gold by 190.7% during the 3rd quarter. Global Retirement Partners LLC now owns 7,031 shares of the company’s stock valued at $50,000 after acquiring an additional 4,612 shares in the last quarter. Hedge funds and other institutional investors own 42.82% of the company’s stock.

New Gold Stock Down 0.4%

Shares of NGD stock opened at $11.32 on Wednesday. New Gold Inc. has a 12 month low of $2.60 and a 12 month high of $13.63. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38. The firm has a market cap of $8.96 billion, a PE ratio of 87.08 and a beta of 0.59. The stock has a 50 day moving average of $9.74 and a 200-day moving average of $7.58.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. National Bankshares restated an “outperform” rating on shares of New Gold in a research note on Thursday, October 30th. Zacks Research upgraded shares of New Gold from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Scotiabank raised their price target on shares of New Gold to $12.75 and gave the company an “outperform” rating in a report on Monday, January 26th. Finally, TD Securities upgraded New Gold from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $8.18.

About New Gold

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.