New Gold Inc. $NGD Shares Sold by Schroder Investment Management Group

Key Points

• Schroder Investment Management Group trimmed its stake in New Gold by 7.0% in Q3, selling 356,708 shares and leaving it with 4,746,464 shares (about 0.60% of the company) valued at roughly $32.94 million.
• Analysts have recently turned more positive on NGD—Zacks upgraded to a "strong-buy," Scotiabank raised its target to $12.75, and TD Securities moved to "buy" with a $12 target—resulting in an average rating of "Buy" and an average target price of $8.18.
• The stock opened at $11.05 and was down 4.1% in the latest session, trading within a one-year range of $2.89 to $13.63, with a market cap of $8.75 billion and 50-/200-day moving averages of $11.11 and $8.58, respectively.

Schroder Investment Management Group trimmed its position in shares of New Gold Inc. (NYSE:NGD - Free Report) by 7.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,746,464 shares of the company's stock after selling 356,708 shares during the period. Schroder Investment Management Group owned about 0.60% of New Gold worth $32,940,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NGD. Creative Planning grew its holdings in New Gold by 8.1% during the 2nd quarter. Creative Planning now owns 27,575 shares of the company's stock worth $136,000 after acquiring an additional 2,071 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in shares of New Gold by 8.9% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 25,942 shares of the company's stock valued at $189,000 after purchasing an additional 2,129 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of New Gold by 0.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 473,856 shares of the company's stock valued at $2,342,000 after purchasing an additional 2,679 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of New Gold by 190.7% in the 3rd quarter. Global Retirement Partners LLC now owns 7,031 shares of the company's stock valued at $50,000 after purchasing an additional 4,612 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of New Gold during the 3rd quarter worth $41,000. Institutional investors and hedge funds own 42.82% of the company's stock.

Analysts Set New Price Targets

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

New Gold Stock Down 4.1%

NGD opened at $11.05 on Thursday. New Gold Inc. has a one year low of $2.89 and a one year high of $13.63. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39. The stock has a market capitalization of $8.75 billion, a P/E ratio of 85.01 and a beta of 0.56. The business's 50-day simple moving average is $11.11 and its 200-day simple moving average is $8.58.

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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