SG Americas Securities LLC Makes New Investment in New Gold Inc. $NGD

SG Americas Securities LLC acquired a new position in New Gold Inc. (NYSE:NGD) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 235,670 shares of the company’s stock, valued at approximately $2,053,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in New Gold by 16.5% in the third quarter. JPMorgan Chase & Co. now owns 13,357,047 shares of the company’s stock valued at $95,904,000 after buying an additional 1,891,468 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in New Gold during the third quarter worth approximately $1,625,000. TD Asset Management Inc increased its position in shares of New Gold by 44.3% in the third quarter. TD Asset Management Inc now owns 4,667,247 shares of the company’s stock worth $33,443,000 after acquiring an additional 1,433,603 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of New Gold by 1,531.2% in the 3rd quarter. Vanguard Group Inc. now owns 11,468,982 shares of the company’s stock valued at $82,164,000 after acquiring an additional 10,765,902 shares during the period. Finally, Triasima Portfolio Management inc. raised its stake in shares of New Gold by 41.2% in the 3rd quarter. Triasima Portfolio Management inc. now owns 849,586 shares of the company’s stock valued at $6,088,000 after acquiring an additional 247,821 shares during the period. 42.82% of the stock is owned by institutional investors and hedge funds.

New Gold Stock Down 0.6%

Shares of NYSE:NGD opened at $9.03 on Friday. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of 69.47 and a beta of 0.57. The company has a 50 day moving average of $10.77 and a two-hundred day moving average of $8.96. New Gold Inc. has a 52-week low of $2.89 and a 52-week high of $13.63. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Scotiabank upped their price target on shares of New Gold to $12.75 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Zacks Research raised New Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, New Gold has a consensus rating of “Buy” and a consensus price target of $10.31.

New Gold Company 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.