149,400 Shares in New Gold Inc. $NGD Purchased by Alps Advisors Inc.

Alps Advisors Inc. acquired a new stake in New Gold Inc. (NYSE:NGD) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 149,400 shares of the company’s stock, valued at approximately $1,073,000.

A number of other institutional investors also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of New Gold in the third quarter valued at approximately $41,000. Employees Retirement System of Texas bought a new position in New Gold in the 2nd quarter valued at $32,000. Global Retirement Partners LLC increased its stake in shares of New Gold by 190.7% in the 3rd quarter. Global Retirement Partners LLC now owns 7,031 shares of the company’s stock valued at $50,000 after buying an additional 4,612 shares during the period. Byrne Asset Management LLC bought a new stake in shares of New Gold during the third quarter worth $60,000. Finally, SBI Securities Co. Ltd. lifted its stake in shares of New Gold by 1,837.7% during the second quarter. SBI Securities Co. Ltd. now owns 8,933 shares of the company’s stock valued at $44,000 after acquiring an additional 8,472 shares during the period. 42.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NGD shares. Zacks Research raised New Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. National Bank Financial reissued an “outperform” rating on shares of New Gold in a research note on Thursday, October 30th. Scotiabank raised their price objective on shares of New Gold to $12.75 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, TD Securities raised shares of New Gold from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $8.18.

New Gold Trading Up 0.5%

NYSE:NGD opened at $11.38 on Thursday. The company has a market cap of $9.01 billion, a P/E ratio of 87.55 and a beta of 0.59. New Gold Inc. has a twelve month low of $2.60 and a twelve month high of $13.63. The business has a 50 day moving average price of $9.81 and a two-hundred day moving average price of $7.61. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38.

About New Gold

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.