Arlington Capital Management Inc. Takes Position in New Gold Inc. $NGD

Key Points

• Arlington Capital Management purchased 521,905 shares of New Gold in Q4 valued at about $4.546 million, making NGD roughly 2.8% of its portfolio and its 11th largest holding.
• Other institutions also increased positions — notably Goldman Sachs (+2,760,692 shares) and Millennium Management (+854,586 shares) — and institutional investors now own about 42.82% of New Gold.
• Analysts are broadly positive with an average rating of Buy (one Strong Buy, five Buy, one Hold) and an average price target of $8.18; NGD opened at $9.08 and has a 12‑month range of $2.89–$13.63 (market cap ~$7.19B).

Arlington Capital Management Inc. purchased a new stake in New Gold Inc. (NYSE:NGD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 521,905 shares of the company's stock, valued at approximately $4,546,000. New Gold makes up approximately 2.8% of Arlington Capital Management Inc.'s portfolio, making the stock its 11th largest holding. Arlington Capital Management Inc. owned approximately 0.07% of New Gold as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Millennium Management LLC raised its stake in New Gold by 91.1% in the 1st quarter. Millennium Management LLC now owns 1,792,631 shares of the company's stock worth $6,642,000 after purchasing an additional 854,586 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of New Gold by 99.1% during the 1st quarter. NewEdge Advisors LLC now owns 80,375 shares of the company's stock worth $298,000 after purchasing an additional 40,000 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of New Gold by 74.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,448,313 shares of the company's stock worth $23,923,000 after purchasing an additional 2,760,692 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of New Gold by 4.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 951,651 shares of the company's stock worth $3,531,000 after purchasing an additional 40,995 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of New Gold by 3.2% during the second quarter. Geode Capital Management LLC now owns 433,971 shares of the company's stock worth $2,168,000 after purchasing an additional 13,544 shares during the period. 42.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Zacks Research upgraded shares of New Gold from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 27th. Scotiabank increased their price target on New Gold to $12.75 and gave the stock an "outperform" rating in a research report on Monday, January 26th. Finally, TD Securities raised New Gold from a "hold" rating to a "buy" rating and set a $12.00 price objective for the company in a report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $8.18.

New Gold Price Performance

NGD stock opened at $9.08 on Friday. The company's 50-day moving average price is $11.21 and its two-hundred day moving average price is $8.74. The firm has a market cap of $7.19 billion, a P/E ratio of 69.85 and a beta of 0.57. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38. New Gold Inc. has a 12 month low of $2.89 and a 12 month high of $13.63.

About New Gold

New Gold Inc is a Canadian-based intermediate precious metals producer focused on the exploration, development and operation of gold and copper mining assets. The company was formed in 2008 through the merger of two exploration firms and has since grown into a multi-asset mining platform. Headquartered in Toronto, New Gold emphasizes a disciplined approach to capital allocation and operational execution, with a commitment to environmental stewardship and strong community relations.

New Gold’s principal producing assets include the New Afton Mine in British Columbia and the Rainy River Mine in northwestern Ontario.

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