Triasima Portfolio Management inc. Increases Holdings in New Gold Inc. $NGD

Key Points

• Triasima Portfolio Management increased its stake in New Gold Inc. by 42.0%, now owning approximately 601,765 shares worth about $2.986 million.
• Multiple institutional investors have recently established new positions in New Gold, contributing to over 42.82% of the company's stock being held by institutional shareholders.
• New Gold has a current market capitalization of $5.71 billion and a PE ratio of 55.47, while analysts have an average rating of "Buy" for the stock with a target price of $4.56.

Triasima Portfolio Management inc. increased its stake in shares of New Gold Inc. (NYSE:NGD - Free Report) by 42.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 601,765 shares of the company's stock after buying an additional 177,993 shares during the quarter. Triasima Portfolio Management inc. owned about 0.08% of New Gold worth $2,986,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC purchased a new position in New Gold during the first quarter worth approximately $37,000. Nwam LLC purchased a new position in New Gold during the first quarter worth approximately $45,000. Private Advisor Group LLC purchased a new position in New Gold during the first quarter worth approximately $50,000. Banque Cantonale Vaudoise purchased a new position in New Gold during the first quarter worth approximately $56,000. Finally, Tradition Wealth Management LLC purchased a new stake in New Gold in the first quarter valued at $56,000. Hedge funds and other institutional investors own 42.82% of the company's stock.

New Gold Price Performance

NGD stock opened at $7.21 on Wednesday. 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 company has a market capitalization of $5.71 billion, a PE ratio of 55.47 and a beta of 0.46. New Gold Inc. has a 12-month low of $2.43 and a 12-month high of $7.59. The business's fifty day moving average price is $5.94 and its 200 day moving average price is $4.78.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. National Bankshares restated an "outperform" rating on shares of New Gold in a research report on Tuesday, September 9th. CIBC lifted their target price on New Gold from $5.50 to $6.25 and gave the company an "outperformer" rating in a research report on Tuesday, July 15th. Finally, Raymond James Financial upgraded New Gold to a "hold" rating and set a $4.00 target price on the stock in a research report on Monday, June 30th. 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, the stock has an average 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.

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