New Gold Inc. $NGD Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its stake in shares of New Gold Inc. (NYSE:NGD) by 10.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 223,248 shares of the company’s stock after selling 27,281 shares during the period. Public Employees Retirement System of Ohio’s holdings in New Gold were worth $1,108,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sheets Smith Wealth Management acquired a new stake in shares of New Gold during the 2nd quarter valued at $783,000. Perpetual Ltd acquired a new stake in shares of New Gold during the 2nd quarter valued at $482,000. Baron Wealth Management LLC raised its stake in New Gold by 53.6% during the 2nd quarter. Baron Wealth Management LLC now owns 24,315 shares of the company’s stock valued at $120,000 after purchasing an additional 8,486 shares during the period. GK Wealth Management LLC purchased a new stake in shares of New Gold in the second quarter valued at $112,000. Finally, Impala Asset Management LLC lifted its holdings in shares of New Gold by 47.1% in the first quarter. Impala Asset Management LLC now owns 1,000,000 shares of the company’s stock valued at $3,710,000 after purchasing an additional 320,000 shares in the last quarter. Institutional investors and hedge funds own 42.82% of the company’s stock.

New Gold Stock Performance

New Gold stock opened at $7.35 on Friday. 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 company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 56.54 and a beta of 0.46. New Gold Inc. has a one year low of $2.43 and a one year high of $7.59. The company’s fifty day moving average price is $5.82 and its two-hundred day moving average price is $4.72.

Wall Street Analyst Weigh In

NGD has been the subject of a number of research analyst reports. Raymond James Financial upgraded New Gold to a “hold” rating and set a $4.00 target price for the company in a report on Monday, June 30th. CIBC increased their target price on New Gold from $5.50 to $6.25 and gave the company an “outperformer” rating in a report on Tuesday, July 15th. Finally, National Bankshares restated an “outperform” rating on shares of New Gold in a report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $4.56.

About New Gold

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.