Wealth High Governance Capital Ltda Takes $9.48 Million Position in New Gold Inc. $NGD

Key Points

• Wealth High Governance Capital Ltda purchased 1,320,000 shares of New Gold (NYSE:NGD) in Q3—about $9.48 million—representing roughly 0.17% of New Gold and 2.7% of Wealth High’s portfolio (its 13th largest holding).
• NGD shares fell 4.7% to $10.22 on Friday, trading 3.36M shares, with a 52‑week range of $2.89–$13.63, a market cap near $8.09B and a P/E of about 78.6; institutional ownership is ~42.8%.
• Analysts have grown more positive recently—Scotiabank raised its target to $12.75 (outperform), TD Securities upgraded to buy with a $12 target and Zacks moved to strong-buy—leaving a consensus rating of Buy and a consensus target of $8.18.

Wealth High Governance Capital Ltda purchased a new position in New Gold Inc. (NYSE:NGD - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,320,000 shares of the company's stock, valued at approximately $9,478,000. New Gold accounts for approximately 2.7% of Wealth High Governance Capital Ltda's investment portfolio, making the stock its 13th largest holding. Wealth High Governance Capital Ltda owned about 0.17% of New Gold at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Creative Planning lifted its holdings in New Gold by 8.1% during the second quarter. Creative Planning now owns 27,575 shares of the company's stock worth $136,000 after buying an additional 2,071 shares during the period. TD Waterhouse Canada Inc. increased its holdings 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 acquiring an additional 2,129 shares during the period. Russell Investments Group Ltd. increased 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 acquiring an additional 2,679 shares during the period. Global Retirement Partners LLC raised its position 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 worth $50,000 after acquiring 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. 42.82% of the stock is currently owned by institutional investors.

New Gold Stock Down 4.7%

Shares of NGD stock traded down $0.50 during trading hours on Friday, reaching $10.22. 3,363,113 shares of the company's stock were exchanged, compared to its average volume of 18,466,904. New Gold Inc. has a 1 year low of $2.89 and a 1 year high of $13.63. 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 stock has a market cap of $8.09 billion, a PE ratio of 78.58 and a beta of 0.56. The stock's fifty day moving average price is $11.15 and its two-hundred day moving average price is $8.59.

Analysts Set New Price Targets

NGD has been the subject of a number of recent research reports. Scotiabank boosted their target price on shares of New Gold to $12.75 and gave the stock an "outperform" rating in a report on Monday, January 26th. TD Securities upgraded shares of New Gold from a "hold" rating to a "buy" rating and set a $12.00 price objective for the company in a research note on Monday, December 1st. Finally, Zacks Research upgraded shares of New Gold from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 27th. One investment 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $8.18.

New Gold 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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