Kohmann Bosshard Financial Services LLC Increases Holdings in New Gold Inc. (NYSE:NGD)

Kohmann Bosshard Financial Services LLC increased its position in New Gold Inc. (NYSE:NGD) by 42.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,000 shares of the company’s stock after acquiring an additional 15,000 shares during the period. Kohmann Bosshard Financial Services LLC’s holdings in New Gold were worth $124,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. DGS Capital Management LLC bought a new stake in shares of New Gold during the 4th quarter valued at about $30,000. Atria Wealth Solutions Inc. purchased a new position in shares of New Gold in the fourth quarter worth approximately $87,000. Bank of New York Mellon Corp grew its position in New Gold by 11.9% during the fourth quarter. Bank of New York Mellon Corp now owns 50,292 shares of the company’s stock valued at $125,000 after buying an additional 5,331 shares during the period. Captrust Financial Advisors increased its holdings in New Gold by 17.6% during the third quarter. Captrust Financial Advisors now owns 44,700 shares of the company’s stock valued at $129,000 after buying an additional 6,700 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its position in New Gold by 326.2% in the third quarter. Dynamic Technology Lab Private Ltd now owns 59,744 shares of the company’s stock worth $172,000 after acquiring an additional 45,726 shares during the period. Hedge funds and other institutional investors own 42.82% of the company’s stock.

New Gold Stock Up 0.7 %

NGD opened at $2.72 on Monday. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 20.92 and a beta of 1.36. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. The firm’s fifty day moving average is $2.79 and its 200 day moving average is $2.77. New Gold Inc. has a fifty-two week low of $1.21 and a fifty-two week high of $3.25.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. CIBC cut their price objective on shares of New Gold from $3.60 to $3.40 and set an “outperform” rating for the company in a research report on Thursday. Scotiabank boosted their price target on New Gold from $3.50 to $4.00 and gave the company a “sector outperform” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $3.60.

New Gold Company Profile

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.