Riggs Asset Managment Co. Inc. acquired a new position in New Gold Inc. (NYSE:NGD - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 307,495 shares of the company's stock, valued at approximately $1,141,000.
Other institutional investors have also added to or reduced their stakes in the company. SIH Partners LLLP bought a new stake in New Gold in the 4th quarter worth about $27,000. Tudor Investment Corp ET AL bought a new stake in New Gold in the 4th quarter worth about $27,000. Samalin Investment Counsel LLC bought a new stake in New Gold in the 4th quarter worth about $32,000. Schonfeld Strategic Advisors LLC bought a new stake in New Gold in the 4th quarter worth about $39,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in New Gold in the 4th quarter worth about $43,000. 42.82% of the stock is owned by institutional investors.
New Gold Stock Performance
Shares of NGD stock traded down $0.30 during trading on Tuesday, reaching $4.74. 23,543,087 shares of the company's stock traded hands, compared to its average volume of 15,155,501. The company has a market capitalization of $3.75 billion, a P/E ratio of 36.46 and a beta of 0.45. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The firm's 50-day moving average is $4.49 and its 200 day moving average is $3.54. New Gold Inc. has a 1 year low of $1.94 and a 1 year high of $5.16.
Analyst Ratings Changes
A number of research analysts have recently weighed in on NGD shares. Scotiabank reissued an "outperform" rating on shares of New Gold in a research report on Monday, April 14th. National Bank Financial raised shares of New Gold to a "strong-buy" rating in a research report on Friday, March 21st. CIBC increased their target price on shares of New Gold from $3.40 to $4.75 and gave the company an "outperformer" rating in a research report on Thursday, May 8th. New Street Research set a $3.90 target price on shares of New Gold in a research report on Wednesday, March 26th. Finally, National Bankshares reissued an "outperform" rating on shares of New Gold in a research report on Tuesday, June 24th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, New Gold has a consensus rating of "Buy" and a consensus price target of $4.13.
Read Our Latest Stock Report on NGD
New Gold Profile
(
Free Report)
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.
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