Vanguard Group Inc. Has $82.16 Million Position in New Gold Inc. $NGD

Vanguard Group Inc. boosted its stake in shares of New Gold Inc. (NYSE:NGD) by 1,531.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,468,982 shares of the company’s stock after acquiring an additional 10,765,902 shares during the quarter. Vanguard Group Inc.’s holdings in New Gold were worth $82,164,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC boosted its position in New Gold by 91.1% in the 1st quarter. Millennium Management LLC now owns 1,792,631 shares of the company’s stock valued at $6,642,000 after buying an additional 854,586 shares during the last quarter. NewEdge Advisors LLC increased its position in New Gold by 99.1% in the first quarter. NewEdge Advisors LLC now owns 80,375 shares of the company’s stock worth $298,000 after purchasing an additional 40,000 shares during the period. Goldman Sachs Group Inc. raised its holdings in New Gold by 74.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,448,313 shares of the company’s stock worth $23,923,000 after purchasing an additional 2,760,692 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in New Gold by 4.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 951,651 shares of the company’s stock valued at $3,531,000 after purchasing an additional 40,995 shares during the period. Finally, AE Wealth Management LLC bought a new position in shares of New Gold in the 2nd quarter valued at about $91,000. Institutional investors own 42.82% of the company’s stock.

New Gold Trading Down 5.2%

NYSE NGD opened at $11.17 on Friday. The stock’s 50-day moving average is $10.93 and its 200-day moving average is $8.39. New Gold Inc. has a one year low of $2.73 and a one year high of $13.63. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. The firm has a market cap of $8.85 billion, a P/E ratio of 85.93 and a beta of 0.57.

Analyst Upgrades and Downgrades

A number of analysts have commented on NGD shares. Scotiabank lifted 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 raised New Gold from a “hold” rating to a “buy” rating and set a $12.00 price target 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 report on Tuesday, January 27th. One investment 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. Based on data from MarketBeat.com, New Gold has an average rating of “Buy” and an average 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.