Quantbot Technologies LP Has $1.14 Million Stake in New Gold Inc. (NYSE:NGD)

Quantbot Technologies LP lessened its position in New Gold Inc. (NYSE:NGD) by 29.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 396,085 shares of the company’s stock after selling 169,296 shares during the period. Quantbot Technologies LP owned 0.05% of New Gold worth $1,141,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp grew its holdings in shares of New Gold by 5.0% during the third quarter. Van ECK Associates Corp now owns 73,884,631 shares of the company’s stock worth $215,743,000 after purchasing an additional 3,541,882 shares during the last quarter. Renaissance Technologies LLC increased its position in New Gold by 13.5% in the 2nd quarter. Renaissance Technologies LLC now owns 20,111,264 shares of the company’s stock valued at $39,217,000 after acquiring an additional 2,399,200 shares during the period. Mackenzie Financial Corp raised its stake in shares of New Gold by 57.3% during the second quarter. Mackenzie Financial Corp now owns 16,328,086 shares of the company’s stock valued at $32,229,000 after acquiring an additional 5,948,394 shares during the last quarter. Herr Investment Group LLC lifted its holdings in shares of New Gold by 40.4% during the second quarter. Herr Investment Group LLC now owns 5,210,363 shares of the company’s stock worth $10,160,000 after purchasing an additional 1,499,745 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of New Gold by 9.8% during the second quarter. TD Asset Management Inc now owns 4,129,508 shares of the company’s stock worth $8,148,000 after purchasing an additional 369,354 shares during the period. 42.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NGD has been the subject of several analyst reports. Scotiabank raised their target price on New Gold from $2.75 to $3.25 and gave the stock a “sector outperform” rating in a research report on Tuesday, September 17th. StockNews.com upgraded New Gold from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada upped their target price on New Gold from $3.00 to $3.50 and gave the company an “outperform” rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $3.41.

New Gold Stock Up 0.4 %

Shares of NYSE:NGD opened at $2.75 on Friday. The business’s 50-day moving average is $2.82 and its 200-day moving average is $2.45. New Gold Inc. has a 1 year low of $1.09 and a 1 year high of $3.25. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 137.50 and a beta of 1.31. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.84.

New Gold (NYSE:NGD) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.04. The firm had revenue of $252.00 million for the quarter. New Gold had a return on equity of 9.38% and a net margin of 2.33%. Equities research analysts predict that New Gold Inc. will post 0.18 earnings per share for the current year.

About New Gold

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.