60,614 Shares in New Gold Inc. $NGD Acquired by Picton Mahoney Asset Management

Picton Mahoney Asset Management bought a new stake in New Gold Inc. (NYSE:NGD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 60,614 shares of the company’s stock, valued at approximately $434,000.

A number of other large investors have also recently bought and sold shares of the stock. Sprott Inc. increased its position in New Gold by 496.4% during the third quarter. Sprott Inc. now owns 4,244,795 shares of the company’s stock worth $30,478,000 after buying an additional 3,533,035 shares in the last quarter. 111 Capital lifted its position in shares of New Gold by 158.0% in the third quarter. 111 Capital now owns 43,490 shares of the company’s stock valued at $311,000 after acquiring an additional 26,633 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of New Gold by 8.2% during the third quarter. American Century Companies Inc. now owns 16,883,444 shares of the company’s stock valued at $120,985,000 after acquiring an additional 1,272,621 shares during the last quarter. Hohimer Wealth Management LLC purchased a new stake in New Gold during the 3rd quarter worth about $4,145,000. Finally, K.J. Harrison & Partners Inc acquired a new position in New Gold in the 3rd quarter valued at about $192,000. Institutional investors and hedge funds own 42.82% of the company’s stock.

New Gold Stock Performance

NYSE NGD opened at $11.21 on Friday. The business’s 50-day moving average price is $10.96 and its 200 day moving average price is $8.46. New Gold Inc. has a twelve month low of $2.73 and a twelve month high of $13.63. The company has a market capitalization of $8.88 billion, a PE ratio of 86.24 and a beta of 0.57. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38.

Analyst Ratings Changes

NGD has been the topic of several analyst reports. TD Securities raised shares of New Gold from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Monday, December 1st. Zacks Research raised shares of New Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, Scotiabank upped their price objective on shares of New Gold to $12.75 and gave the company an “outperform” rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price 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.