SG Americas Securities LLC Boosts Stock Position in New Gold Inc. (NYSEAMERICAN:NGD)

SG Americas Securities LLC grew its stake in shares of New Gold Inc. (NYSEAMERICAN:NGDGet Rating) by 195.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 245,262 shares of the basic materials company’s stock after acquiring an additional 162,138 shares during the period. SG Americas Securities LLC’s holdings in New Gold were worth $441,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Sprott Inc. increased its holdings in shares of New Gold by 484.4% in the fourth quarter. Sprott Inc. now owns 13,853,631 shares of the basic materials company’s stock worth $20,767,000 after purchasing an additional 11,482,943 shares during the period. Invesco Ltd. increased its holdings in shares of New Gold by 23.7% in the fourth quarter. Invesco Ltd. now owns 11,191,199 shares of the basic materials company’s stock worth $16,787,000 after purchasing an additional 2,145,989 shares during the period. Bank of Montreal Can increased its holdings in shares of New Gold by 19.9% in the fourth quarter. Bank of Montreal Can now owns 4,869,152 shares of the basic materials company’s stock worth $7,473,000 after purchasing an additional 806,535 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of New Gold by 60.2% in the fourth quarter. JPMorgan Chase & Co. now owns 4,634,141 shares of the basic materials company’s stock worth $6,951,000 after purchasing an additional 1,742,132 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of New Gold by 377.2% in the fourth quarter. American Century Companies Inc. now owns 3,617,886 shares of the basic materials company’s stock worth $5,422,000 after purchasing an additional 2,859,764 shares during the period. Hedge funds and other institutional investors own 30.03% of the company’s stock.

New Gold Stock Performance

New Gold stock opened at $0.81 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.38 and a debt-to-equity ratio of 0.61. The stock has a market cap of $552.31 million, a PE ratio of -16.19, a PEG ratio of 1.21 and a beta of 1.99. New Gold Inc. has a 1-year low of $0.67 and a 1-year high of $2.02.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NGD. Royal Bank of Canada reduced their target price on New Gold from $1.50 to $1.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 12th. Canaccord Genuity Group raised New Gold from a “hold” rating to a “buy” rating in a research note on Thursday, April 21st. TD Securities reduced their target price on New Gold from $1.75 to $0.85 and set a “hold” rating on the stock in a research note on Wednesday, July 13th. BMO Capital Markets reduced their target price on New Gold from C$3.00 to C$2.00 in a research note on Wednesday, July 13th. Finally, Raymond James reduced their target price on New Gold from $2.00 to $1.50 and set a “market perform” rating on the stock in a research note on Wednesday, July 13th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $1.51.

New Gold Company Profile

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New Gold Inc, an intermediate gold mining company, engages in the exploration, development, and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's principal operating properties include 100% interests in the Rainy River mine located in Ontario, Canada; and New Afton mine situated in British Columbia, Canada.

Further Reading

Institutional Ownership by Quarter for New Gold (NYSEAMERICAN:NGD)

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