FORA Capital LLC Acquires Shares of 151,168 New Gold Inc. $NGD

Key Points

• FORA Capital LLC purchased 151,168 shares of New Gold Inc., valued at approximately $561,000, indicating growing institutional interest in the company.
• New Gold's current stock price is $5.68, with a market cap of $4.50 billion and shares experiencing a 52-week range from $2.31 to $5.75.
• Wall Street analysts have a consensus rating of "Buy" for New Gold, with a price target averaging $4.38, reflecting positive sentiment about the company's outlook.

FORA Capital LLC acquired a new stake in New Gold Inc. (NYSE:NGD - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 151,168 shares of the company's stock, valued at approximately $561,000.

A number of other institutional investors also recently modified their holdings of NGD. Tudor Investment Corp ET AL bought a new stake in shares of New Gold in the 4th quarter valued at $27,000. Cary Street Partners Financial LLC bought a new stake in shares of New Gold in the 1st quarter valued at $37,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of New Gold in the 4th quarter valued at $39,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of New Gold in the 4th quarter valued at $43,000. Finally, Nwam LLC bought a new stake in shares of New Gold in the 1st quarter valued at $45,000. 42.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. CIBC upped their price objective on shares of New Gold from $5.50 to $6.25 and gave the company an "outperformer" rating in a research note on Tuesday, July 15th. National Bankshares reaffirmed an "outperform" rating on shares of New Gold in a research note on Tuesday, June 24th. Wall Street Zen raised shares of New Gold from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, Raymond James Financial raised shares of New Gold to a "hold" rating and set a $4.00 target price on the stock in a research note on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $4.38.

New Gold Stock Up 3.9%

NYSE NGD traded up $0.22 on Monday, hitting $5.90. 13,413,883 shares of the company were exchanged, compared to its average volume of 19,371,982. The company has a market cap of $4.67 billion, a PE ratio of 45.39 and a beta of 0.38. New Gold Inc. has a 12 month low of $2.31 and a 12 month high of $5.92. The stock has a fifty day moving average of $4.84 and a 200-day moving average of $4.09. 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 Profile

New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.