14,353 Shares in New Gold Inc. (NYSE:NGD) Acquired by Scientech Research LLC

Scientech Research LLC purchased a new stake in shares of New Gold Inc. (NYSE:NGD) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 14,353 shares of the company’s stock, valued at approximately $28,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NGD. Mackenzie Financial Corp lifted its position in New Gold by 57.3% during the second quarter. Mackenzie Financial Corp now owns 16,328,086 shares of the company’s stock worth $32,229,000 after acquiring an additional 5,948,394 shares during the last quarter. Van ECK Associates Corp lifted its holdings in New Gold by 8.4% during the 1st quarter. Van ECK Associates Corp now owns 72,499,714 shares of the company’s stock worth $123,249,000 after purchasing an additional 5,613,145 shares during the last quarter. Renaissance Technologies LLC boosted its stake in New Gold by 13.5% in the 2nd quarter. Renaissance Technologies LLC now owns 20,111,264 shares of the company’s stock valued at $39,217,000 after purchasing an additional 2,399,200 shares during the period. Invenomic Capital Management LP grew its holdings in New Gold by 19.6% in the 4th quarter. Invenomic Capital Management LP now owns 10,101,164 shares of the company’s stock valued at $14,748,000 after buying an additional 1,654,396 shares in the last quarter. Finally, Herr Investment Group LLC increased its position in New Gold by 40.4% during the 2nd quarter. Herr Investment Group LLC now owns 5,210,363 shares of the company’s stock worth $10,160,000 after buying an additional 1,499,745 shares during the period. 42.82% of the stock is owned by institutional investors.

New Gold Stock Up 2.8 %

NYSE:NGD opened at $2.96 on Wednesday. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -29.60 and a beta of 1.29. New Gold Inc. has a twelve month low of $0.86 and a twelve month high of $3.25. The company has a fifty day moving average of $2.54. The company has a quick ratio of 0.98, a current ratio of 1.50 and a debt-to-equity ratio of 0.52.

New Gold (NYSE:NGD) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. New Gold had a positive return on equity of 5.22% and a negative net margin of 2.53%. The firm had revenue of $218.20 million during the quarter. On average, analysts anticipate that New Gold Inc. will post 0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NGD shares. Scotiabank boosted their target price on shares of New Gold from $2.75 to $3.25 and gave the company a “sector outperform” rating in a research report on Tuesday, September 17th. Cibc World Mkts upgraded shares of New Gold to a “strong-buy” rating in a research report on Wednesday, July 10th. CIBC raised their target price on shares of New Gold from $3.00 to $3.40 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Royal Bank of Canada boosted their price target on New Gold from $3.00 to $3.50 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, StockNews.com upgraded New Gold from a “hold” rating to a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, New Gold currently has a consensus rating of “Buy” and an average target price of $2.74.

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.