Sprott Inc. Has $30.48 Million Position in New Gold Inc. $NGD

Sprott Inc. raised its stake in shares of New Gold Inc. (NYSE:NGD) by 496.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,244,795 shares of the company’s stock after purchasing an additional 3,533,035 shares during the period. New Gold accounts for 1.1% of Sprott Inc.’s portfolio, making the stock its 25th largest holding. Sprott Inc. owned 0.54% of New Gold worth $30,478,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of NGD. Employees Retirement System of Texas acquired a new position in New Gold in the 2nd quarter valued at $32,000. Wealth Enhancement Advisory Services LLC bought a new stake in New Gold during the third quarter valued at about $41,000. MAI Capital Management acquired a new stake in shares of New Gold in the third quarter valued at about $43,000. SBI Securities Co. Ltd. increased its stake in shares of New Gold by 1,837.7% in the second quarter. SBI Securities Co. Ltd. now owns 8,933 shares of the company’s stock worth $44,000 after purchasing an additional 8,472 shares during the period. Finally, Wealthspire Advisors LLC acquired a new position in shares of New Gold during the 2nd quarter worth about $50,000. 42.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. TD Securities raised New Gold from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Monday, December 1st. Scotiabank boosted their target price on shares of New Gold to $12.75 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Finally, Zacks Research upgraded shares of New Gold from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $8.18.

New Gold Trading Down 0.7%

Shares of New Gold stock opened at $13.33 on Tuesday. The company’s fifty day moving average price is $10.78 and its two-hundred day moving average price is $8.30. The firm has a market capitalization of $10.56 billion, a PE ratio of 102.55 and a beta of 0.59. New Gold Inc. has a 52-week low of $2.60 and a 52-week high of $13.63. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84.

New Gold Company Profile

New Gold Inc is a Canadian-based intermediate precious metals producer focused on the exploration, development and operation of gold and copper mining assets. The company was formed in 2008 through the merger of two exploration firms and has since grown into a multi-asset mining platform. Headquartered in Toronto, New Gold emphasizes a disciplined approach to capital allocation and operational execution, with a commitment to environmental stewardship and strong community relations.

New Gold’s principal producing assets include the New Afton Mine in British Columbia and the Rainy River Mine in northwestern Ontario.