UBS Asset Management Americas Inc. cut its position in New Gold Inc. (NYSEAMERICAN:NGD) by 49.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 241,509 shares of the basic materials company’s stock after selling 240,233 shares during the period. UBS Asset Management Americas Inc.’s holdings in New Gold were worth $796,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of New Gold by 78.1% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,426,365 shares of the basic materials company’s stock valued at $4,693,000 after buying an additional 625,283 shares in the last quarter. Exane Derivatives boosted its holdings in shares of New Gold by 59.3% in the 4th quarter. Exane Derivatives now owns 1,311,301 shares of the basic materials company’s stock valued at $4,313,000 after buying an additional 487,995 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of New Gold in the 4th quarter valued at $1,406,000. Ingalls & Snyder LLC boosted its holdings in shares of New Gold by 3.7% in the 4th quarter. Ingalls & Snyder LLC now owns 8,870,375 shares of the basic materials company’s stock valued at $29,184,000 after buying an additional 314,865 shares in the last quarter. Finally, Virtu Financial LLC boosted its holdings in shares of New Gold by 397.1% in the 3rd quarter. Virtu Financial LLC now owns 349,676 shares of the basic materials company’s stock valued at $295,000 after buying an additional 279,337 shares in the last quarter. 51.53% of the stock is currently owned by institutional investors.
Several research analysts have recently issued reports on NGD shares. Royal Bank of Canada lowered 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 decreased 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 research note on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $4.01.
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 Zacks’ consensus estimate of $0.01. The firm had revenue of $193.50 million during the quarter, compared to analysts’ expectations of $229.39 million. New Gold had a negative net margin of 92.82% and a negative return on equity of 32.21%. The business’s quarterly revenue was up 37.5% on a year-over-year basis. analysts forecast 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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