JPMorgan Chase & Co. Buys 1,891,468 Shares of New Gold Inc. $NGD

Key Points

• JPMorgan Chase & Co. increased its stake in New Gold by 16.5%, acquiring 1,891,468 shares to hold 13,357,047 shares (about 1.69% of the company) valued at roughly $95.9 million.
• Analysts have recently upgraded the stock — Scotiabank raised its target to $12.75 (outperform), TD Securities set a $12 target (buy) and Zacks moved to strong-buy — with MarketBeat showing an average rating of "Buy" and an average price target of $8.18.
• New Gold opened at $10.34, trading in a 12‑month range of $2.89–$13.63, and has a market cap of $8.19 billion with a P/E around 79.5.

JPMorgan Chase & Co. boosted its stake in New Gold Inc. (NYSE:NGD - Free Report) by 16.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,357,047 shares of the company's stock after acquiring an additional 1,891,468 shares during the period. JPMorgan Chase & Co. owned 1.69% of New Gold worth $95,904,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of NGD. Employees Retirement System of Texas bought a new stake in shares of New Gold in the 2nd quarter worth approximately $32,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of New Gold in the third quarter valued at $41,000. MAI Capital Management purchased a new position in shares of New Gold during the 3rd quarter valued at $43,000. SBI Securities Co. Ltd. grew its stake in shares of New Gold by 1,837.7% during the 2nd quarter. SBI Securities Co. Ltd. now owns 8,933 shares of the company's stock worth $44,000 after acquiring an additional 8,472 shares during the period. Finally, Wealthspire Advisors LLC purchased a new stake in New Gold in the 2nd quarter worth about $50,000. 42.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Scotiabank upped their price objective on shares of New Gold to $12.75 and gave the company an "outperform" rating in a report on Monday, January 26th. Zacks Research raised shares of New Gold from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 27th. Finally, TD Securities upgraded shares of New Gold from a "hold" rating to a "buy" rating and set a $12.00 price target on the stock in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $8.18.

New Gold Trading Up 0.2%

Shares of New Gold stock opened at $10.34 on Wednesday. The company's 50-day moving average price is $11.22 and its 200-day moving average price is $8.73. 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 Inc. has a 12-month low of $2.89 and a 12-month high of $13.63. The company has a market cap of $8.19 billion, a price-to-earnings ratio of 79.54 and a beta of 0.57.

New Gold Company Profile

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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