New Gold Inc. $NGD Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in New Gold Inc. (NYSE:NGD) by 1,531.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,468,982 shares of the company’s stock after acquiring an additional 10,765,902 shares during the period. Vanguard Group Inc. owned 1.45% of New Gold worth $82,164,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Planning boosted its holdings in shares of New Gold by 8.1% during the second quarter. Creative Planning now owns 27,575 shares of the company’s stock worth $136,000 after purchasing an additional 2,071 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of New Gold by 8.9% in the third quarter. TD Waterhouse Canada Inc. now owns 25,942 shares of the company’s stock worth $189,000 after acquiring an additional 2,129 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of New Gold by 0.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 473,856 shares of the company’s stock valued at $2,342,000 after buying an additional 2,679 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of New Gold by 190.7% during the third quarter. Global Retirement Partners LLC now owns 7,031 shares of the company’s stock worth $50,000 after buying an additional 4,612 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of New Gold in the third quarter worth $41,000. 42.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

New Gold Stock Down 5.2%

NGD stock opened at $11.17 on Friday. The firm has a market cap of $8.85 billion, a PE ratio of 85.93 and a beta of 0.57. New Gold Inc. has a 1 year low of $2.73 and a 1 year high of $13.63. The company has a fifty day simple moving average of $10.93 and a 200 day simple moving average of $8.39. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38.

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.