OppenheimerFunds Inc. grew its position in New Gold Inc. (NYSEAMERICAN:NGD) by 55.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 310,000 shares of the basic materials company’s stock after buying an additional 110,000 shares during the period. OppenheimerFunds Inc. owned 0.05% of New Gold worth $1,020,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new stake in New Gold during the 3rd quarter valued at approximately $202,000. Candriam Luxembourg S.C.A. acquired a new stake in New Gold during the 4th quarter valued at approximately $516,000. Cutler Capital Management LLC increased its holdings in shares of New Gold by 82.9% during the 4th quarter. Cutler Capital Management LLC now owns 160,000 shares of the basic materials company’s stock valued at $526,000 after purchasing an additional 72,500 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of New Gold during the 4th quarter valued at approximately $596,000. Finally, Virtu Financial LLC increased its holdings in shares of New Gold by 397.1% during the 3rd quarter. Virtu Financial LLC now owns 349,676 shares of the basic materials company’s stock valued at $295,000 after purchasing an additional 279,337 shares in the last quarter. Institutional investors and hedge funds own 51.53% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Royal Bank of Canada set a $4.00 target price on shares of New Gold and gave the company a “hold” rating in a report on Monday, February 26th. Raymond James Financial cut their price target on shares of New Gold from $4.25 to $3.75 and set a “market perform” rating for the company in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. New Gold has an average rating of “Hold” and a consensus price target of $4.01.
New Gold stock traded down $0.05 during mid-day trading on Friday, hitting $2.50. The company had a trading volume of 3,196,601 shares, compared to its average volume of 5,767,464. New Gold Inc. has a 1 year low of $2.28 and a 1 year high of $4.25. The company has a current ratio of 2.28, a quick ratio of 1.38 and a debt-to-equity ratio of 0.42.
New Gold (NYSEAMERICAN:NGD) last issued its quarterly earnings results on Tuesday, February 20th. The basic materials company reported $0.01 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. New Gold had a negative return on equity of 32.21% and a negative net margin of 92.82%. The firm had revenue of $193.50 million during the quarter, compared to the consensus estimate of $229.39 million. New Gold’s quarterly revenue was up 37.5% on a year-over-year basis. sell-side analysts anticipate that New Gold Inc. will post 0.05 EPS for the current year.
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New Gold Company Profile
New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.
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