Candriam Luxembourg S.C.A. Buys New Shares in New Gold Inc. (NYSEAMERICAN:NGD)

Candriam Luxembourg S.C.A. bought a new stake in New Gold Inc. (NYSEAMERICAN:NGD) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 109,650 shares of the basic materials company’s stock, valued at approximately $116,000.

Other hedge funds have also recently made changes to their positions in the company. Morgan Stanley lifted its stake in New Gold by 12.8% in the second quarter. Morgan Stanley now owns 6,576,770 shares of the basic materials company’s stock valued at $11,903,000 after acquiring an additional 746,324 shares during the last quarter. Deutsche Bank AG lifted its stake in New Gold by 286.1% in the second quarter. Deutsche Bank AG now owns 131,597 shares of the basic materials company’s stock valued at $239,000 after acquiring an additional 97,510 shares during the last quarter. PEAK6 Investments LLC lifted its stake in New Gold by 9.2% in the second quarter. PEAK6 Investments LLC now owns 328,721 shares of the basic materials company’s stock valued at $595,000 after acquiring an additional 27,661 shares during the last quarter. Renaissance Technologies LLC lifted its stake in New Gold by 1.6% in the second quarter. Renaissance Technologies LLC now owns 18,040,155 shares of the basic materials company’s stock valued at $32,653,000 after acquiring an additional 285,947 shares during the last quarter. Finally, Amundi acquired a new stake in shares of New Gold during the 2nd quarter worth about $6,846,000. Hedge funds and other institutional investors own 30.03% of the company’s stock.

Shares of New Gold stock opened at $1.64 on Friday. The company has a market cap of $1.12 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.37 and a beta of 1.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.68 and a current ratio of 2.38. New Gold Inc. has a 1 year low of $1.01 and a 1 year high of $2.23.

New Gold (NYSEAMERICAN:NGD) last announced its quarterly earnings results on Friday, November 12th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $179.80 million for the quarter. New Gold had a negative net margin of 4.45% and a positive return on equity of 8.82%. Equities research analysts forecast that New Gold Inc. will post 0.14 EPS for the current year.

A number of analysts have recently issued reports on the stock. Cormark restated a “hold” rating on shares of New Gold in a research note on Friday, September 17th. TD Securities raised their target price on shares of New Gold from $1.50 to $1.75 and gave the stock a “hold” rating in a research note on Monday, November 15th. Zacks Investment Research upgraded shares of New Gold from a “sell” rating to a “hold” rating in a research note on Wednesday, November 24th. Raymond James raised their price target on shares of New Gold from $1.75 to $2.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 14th. Finally, National Bank Financial raised their price target on shares of New Gold from C$2.25 to C$2.50 and gave the stock a “sector perform” rating in a research report on Monday, November 22nd. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.25.

New Gold Company Profile

New Gold Inc is a gold mining company, which is engaged in the operation, development and exploration of mineral properties. Its portfolio includes Rainy RIver, New Afton, and Cerro San Pedro. The company was founded on January 31, 1980 and is headquartered in Toronto, Canada.

See Also: Convertible Shares

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

Receive News & Ratings for New Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Gold and related companies with MarketBeat.com's FREE daily email newsletter.