Cubist Systematic Strategies LLC Has $1.40 Million Holdings in New Gold Inc. $NGD

Key Points

• Cubist Systematic Strategies LLC reduced its stake in New Gold Inc. by 24.8% during the first quarter, selling 124,628 shares, leaving it with 377,779 shares valued at $1,398,000.
• Several institutional investors have increased their holdings in New Gold, with Pale Fire Capital SE acquiring a new position worth over $23 million and JGP Global Gestao de Recursos Ltda. boosting its shares by 64.4%.
• New Gold currently holds an average rating of "Buy" from analysts, with a consensus target price of $4.38, and the stock has traded up 2.6% recently.

Cubist Systematic Strategies LLC lessened its holdings in New Gold Inc. (NYSE:NGD - Free Report) by 24.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 377,779 shares of the company's stock after selling 124,628 shares during the quarter. Cubist Systematic Strategies LLC's holdings in New Gold were worth $1,398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Canada Pension Plan Investment Board increased its holdings in New Gold by 9.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,690,100 shares of the company's stock valued at $9,947,000 after buying an additional 240,000 shares during the period. State of Wyoming bought a new stake in shares of New Gold in the 1st quarter worth about $75,000. OMERS ADMINISTRATION Corp grew its holdings in shares of New Gold by 121.8% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 48,800 shares of the company's stock worth $180,000 after purchasing an additional 26,800 shares during the last quarter. CreativeOne Wealth LLC bought a new stake in shares of New Gold in the 1st quarter worth about $85,000. Finally, Samalin Investment Counsel LLC grew its holdings in shares of New Gold by 130.8% in the 1st quarter. Samalin Investment Counsel LLC now owns 30,000 shares of the company's stock worth $111,000 after purchasing an additional 17,000 shares during the last quarter. Institutional investors own 42.82% of the company's stock.

New Gold Trading Down 0.2%

New Gold stock traded down $0.01 during trading hours on Friday, reaching $6.52. 11,331,498 shares of the company's stock traded hands, compared to its average volume of 19,196,229. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. New Gold Inc. has a fifty-two week low of $2.43 and a fifty-two week high of $6.63. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 50.16 and a beta of 0.43. The firm's 50 day moving average is $5.13 and its 200-day moving average is $4.31.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NGD shares. National Bankshares reaffirmed an "outperform" rating on shares of New Gold in a report on Tuesday. Raymond James Financial raised shares of New Gold to a "hold" rating and set a $4.00 target price on the stock in a report on Monday, June 30th. Finally, CIBC upped their target price on shares of New Gold from $5.50 to $6.25 and gave the stock an "outperformer" rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, New Gold has a consensus rating of "Buy" and an average target price of $4.56.

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.