Franklin Resources Inc. Increases Holdings in New Gold Inc. (NGD)

Franklin Resources Inc. raised its holdings in shares of New Gold Inc. (NYSEAMERICAN:NGD) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,110,000 shares of the basic materials company’s stock after buying an additional 30,000 shares during the quarter. Franklin Resources Inc.’s holdings in New Gold were worth $10,232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Cubist Systematic Strategies LLC purchased a new position in shares of New Gold during the 3rd quarter valued at approximately $202,000. Quadrature Capital Ltd purchased a new position in shares of New Gold during the 4th quarter valued at approximately $425,000. Candriam Luxembourg S.C.A. purchased a new position in shares of New Gold during the 4th quarter valued at approximately $516,000. Spark Investment Management LLC purchased a new position in shares of New Gold during the 4th quarter valued at approximately $515,000. Finally, 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. Institutional investors and hedge funds own 51.53% of the company’s stock.

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Several research firms have recently weighed in on NGD. Royal Bank of Canada cut their target price on shares of New Gold from $3.75 to $3.50 and set a “sector perform” rating for the company in a report on Tuesday, February 27th. Raymond James Financial cut their target price 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 analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $4.01.

Shares of New Gold Inc. (NYSEAMERICAN NGD) opened at $2.55 on Monday. The company has a market cap of $1,350.00, a price-to-earnings ratio of -15.00, a P/E/G ratio of 13.01 and a beta of 0.27. The company has a quick ratio of 1.38, a current ratio of 2.28 and a debt-to-equity ratio of 0.42. New Gold Inc. has a 1-year low of $2.28 and a 1-year high of $4.25.

New Gold (NYSEAMERICAN:NGD) last issued its quarterly earnings results on Tuesday, February 20th. The basic materials company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $193.50 million during the quarter, compared to analyst estimates of $229.39 million. New Gold had a negative net margin of 92.82% and a negative return on equity of 32.21%. The company’s revenue was up 37.5% on a year-over-year basis. analysts expect that New Gold Inc. will post 0.05 earnings per share 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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Institutional Ownership by Quarter for New Gold (NYSEAMERICAN:NGD)

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