Charles Schwab Investment Management Inc. Acquires New Position in New Gold Inc. $NGD

Charles Schwab Investment Management Inc. acquired a new stake in shares of New Gold Inc. (NYSE:NGD) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 102,344 shares of the company’s stock, valued at approximately $378,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC purchased a new position in New Gold during the first quarter valued at approximately $37,000. Tudor Investment Corp ET AL purchased a new position in New Gold during the fourth quarter valued at approximately $27,000. Nwam LLC purchased a new position in New Gold during the first quarter valued at approximately $45,000. Private Advisor Group LLC purchased a new position in New Gold during the first quarter valued at approximately $50,000. Finally, Banque Cantonale Vaudoise purchased a new position in New Gold during the first quarter valued at approximately $56,000. 42.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NGD. National Bankshares reiterated an “outperform” rating on shares of New Gold in a research note on Tuesday, June 24th. CIBC lifted their target price on shares of New Gold from $5.50 to $6.25 and gave the company an “outperformer” rating in a research note on Tuesday, July 15th. Wall Street Zen upgraded shares of New Gold from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, Raymond James Financial upgraded shares of New Gold to a “hold” rating and set a $4.00 target price for the company in a research note on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, New Gold presently has a consensus rating of “Buy” and an average target price of $4.38.

New Gold Price Performance

Shares of New Gold stock opened at $6.16 on Thursday. The firm has a fifty day simple moving average of $4.92 and a 200-day simple moving average of $4.14. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. New Gold Inc. has a 1-year low of $2.31 and a 1-year high of $6.29. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 47.39 and a beta of 0.42.

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.