Campbell & CO Investment Adviser LLC Takes $1.63 Million Position in New Gold Inc. $NGD

Campbell & CO Investment Adviser LLC bought a new position in shares of New Gold Inc. (NYSE:NGD) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 226,387 shares of the company’s stock, valued at approximately $1,625,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NGD. Kiker Wealth Management LLC bought a new stake in shares of New Gold in the 3rd quarter worth approximately $275,000. Burford Brothers Inc. acquired a new position in shares of New Gold in the third quarter valued at $81,000. SeaBridge Investment Advisors LLC bought a new position in New Gold in the third quarter worth $141,000. Byrne Asset Management LLC bought a new position in New Gold in the third quarter worth $60,000. Finally, CWA Asset Management Group LLC boosted its stake in New Gold by 386.4% during the third quarter. CWA Asset Management Group LLC now owns 165,662 shares of the company’s stock worth $1,189,000 after buying an additional 131,604 shares in the last quarter. 42.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NGD. Scotiabank increased their price objective on shares of New Gold from $5.50 to $8.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. TD Securities raised shares of New Gold from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Monday, December 1st. CIBC lifted their price objective on New Gold from $6.50 to $9.50 and gave the company an “outperformer” rating in a report on Friday, October 10th. National Bankshares reissued an “outperform” rating on shares of New Gold in a report on Thursday, October 30th. Finally, Raymond James Financial restated a “market perform” rating and set a $7.00 target price on shares of New Gold in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $7.38.

New Gold Price Performance

Shares of New Gold stock opened at $11.06 on Friday. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 85.08 and a beta of 0.62. The firm’s 50-day moving average price is $8.41 and its two-hundred day moving average price is $6.77. 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 $2.60 and a 1-year high of $11.09.

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.