New Gold Inc (NYSEAMERICAN:NGD) Shares Acquired by Tower Research Capital LLC TRC

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Tower Research Capital LLC TRC raised its holdings in shares of New Gold Inc (NYSEAMERICAN:NGD) by 17.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 165,030 shares of the basic materials company’s stock after buying an additional 23,951 shares during the quarter. Tower Research Capital LLC TRC’s holdings in New Gold were worth $86,000 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. Swiss National Bank lifted its stake in shares of New Gold by 2.5% in the 4th quarter. Swiss National Bank now owns 1,292,162 shares of the basic materials company’s stock valued at $1,143,000 after purchasing an additional 31,900 shares during the period. State Street Corp grew its holdings in shares of New Gold by 162.8% during the fourth quarter. State Street Corp now owns 91,451 shares of the basic materials company’s stock worth $80,000 after buying an additional 56,651 shares in the last quarter. Islay Capital Management LLC purchased a new stake in shares of New Gold during the fourth quarter worth $26,000. TD Asset Management Inc. grew its holdings in shares of New Gold by 118.7% during the fourth quarter. TD Asset Management Inc. now owns 824,531 shares of the basic materials company’s stock worth $731,000 after buying an additional 447,576 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in shares of New Gold by 37.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 46,067 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 12,512 shares during the period. Institutional investors and hedge funds own 51.53% of the company’s stock.

Shares of New Gold stock opened at $1.34 on Tuesday. New Gold Inc has a 52 week low of $0.39 and a 52 week high of $1.56.

New Gold (NYSEAMERICAN:NGD) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). The business had revenue of $142.30 million for the quarter.

A number of equities research analysts recently issued reports on the stock. upped their price objective on shares of New Gold from $2.10 to $2.50 and gave the company an “outperform” rating in a report on Wednesday, June 10th. CIBC upped their target price on shares of New Gold from $0.75 to $1.20 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. BMO Capital Markets raised shares of New Gold from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 1st. TD Securities upped their target price on shares of New Gold from $0.85 to $0.90 and gave the company a “hold” rating in a research report on Thursday, April 30th. Finally, Zacks Investment Research raised shares of New Gold from a “hold” rating to a “buy” rating and set a $1.00 price target on the stock in a research report on Thursday, April 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $1.38.

New Gold Profile

New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the Rainy River project located in Ontario, Canada; the New Afton project located near Kamloops, British Columbia, Canada; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

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

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