Montrusco Bolton Investments Inc. Sells 1,193,201 Shares of New Gold Inc. $NGD

Montrusco Bolton Investments Inc. lowered its position in New Gold Inc. (NYSE:NGDFree Report) by 27.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,202,022 shares of the company’s stock after selling 1,193,201 shares during the period. Montrusco Bolton Investments Inc. owned about 0.40% of New Gold worth $15,887,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NGD. Pale Fire Capital SE bought a new stake in shares of New Gold in the first quarter worth $23,920,000. JGP Global Gestao de Recursos Ltda. grew its holdings in New Gold by 64.4% during the first quarter. JGP Global Gestao de Recursos Ltda. now owns 10,687,997 shares of the company’s stock valued at $39,652,000 after purchasing an additional 4,187,997 shares during the period. American Century Companies Inc. grew its holdings in New Gold by 23.7% during the first quarter. American Century Companies Inc. now owns 15,149,653 shares of the company’s stock valued at $56,033,000 after purchasing an additional 2,898,895 shares during the period. Goldman Sachs Group Inc. grew 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 valued at $23,923,000 after purchasing an additional 2,760,692 shares during the period. Finally, Amundi grew its holdings in New Gold by 42.2% during the first quarter. Amundi now owns 8,356,029 shares of the company’s stock valued at $29,580,000 after purchasing an additional 2,478,303 shares during the period. Institutional investors own 42.82% of the company’s stock.

Analyst Ratings Changes

NGD has been the subject of several recent research reports. National Bankshares reissued an “outperform” rating on shares of New Gold in a report on Tuesday, September 9th. Raymond James Financial reissued a “market perform” rating and set a $7.00 price target on shares of New Gold in a report on Friday. Finally, CIBC boosted their price target on New Gold from $6.50 to $9.50 and gave the company an “outperformer” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $5.81.

Check Out Our Latest Analysis on NGD

New Gold Price Performance

Shares of New Gold stock opened at $6.84 on Monday. The stock’s 50-day simple moving average is $6.10 and its 200-day simple moving average is $4.86. New Gold Inc. has a 52 week low of $2.43 and a 52 week high of $7.59. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 52.62 and a beta of 0.46. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38.

New Gold Profile

(Free Report)

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.

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Institutional Ownership by Quarter for New Gold (NYSE:NGD)

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