Navellier & Associates Inc. Invests $1.08 Million in New Gold Inc. $NGD

Navellier & Associates Inc. bought a new position in shares of New Gold Inc. (NYSE:NGD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 149,772 shares of the company’s stock, valued at approximately $1,075,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in New Gold during the 3rd quarter worth about $41,000. Employees Retirement System of Texas purchased a new stake in shares of New Gold in the second quarter worth about $32,000. Global Retirement Partners LLC boosted its stake in shares of New Gold by 190.7% in the third quarter. Global Retirement Partners LLC now owns 7,031 shares of the company’s stock worth $50,000 after buying an additional 4,612 shares during the last quarter. Byrne Asset Management LLC acquired a new stake in New Gold during the third quarter worth about $60,000. Finally, SBI Securities Co. Ltd. raised its position in New Gold by 1,837.7% during the second quarter. SBI Securities Co. Ltd. now owns 8,933 shares of the company’s stock valued at $44,000 after acquiring an additional 8,472 shares in the last quarter. 42.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NGD has been the topic of several recent research reports. Scotiabank upped their price objective on New Gold to $12.75 and gave the stock an “outperform” rating in a research report on Monday, January 26th. National Bankshares reissued an “outperform” rating on shares of New Gold in a report on Thursday, October 30th. 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 report on Monday, December 1st. Finally, Zacks Research raised shares of New Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $8.18.

New Gold Price Performance

New Gold stock opened at $11.32 on Wednesday. The stock has a market capitalization of $8.96 billion, a P/E ratio of 87.08 and a beta of 0.59. The company’s fifty day moving average price is $9.74 and its 200 day moving average price is $7.58. 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 1 year low of $2.60 and a 1 year high of $13.63.

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.