BW Gestao de Investimentos Ltda. Buys New Position in New Gold Inc. $NGD

BW Gestao de Investimentos Ltda. acquired a new stake in shares of New Gold Inc. (NYSE:NGD) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 880,000 shares of the company’s stock, valued at approximately $6,318,000. BW Gestao de Investimentos Ltda. owned approximately 0.11% of New Gold as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC bought a new stake in shares of New Gold in the 3rd quarter worth approximately $1,625,000. TD Asset Management Inc boosted its holdings in shares of New Gold by 44.3% during the third quarter. TD Asset Management Inc now owns 4,667,247 shares of the company’s stock worth $33,443,000 after purchasing an additional 1,433,603 shares during the period. Vanguard Group Inc. grew its position 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 worth $82,164,000 after buying an additional 10,765,902 shares during the last quarter. Triasima Portfolio Management inc. boosted its stake in shares of New Gold by 41.2% during the 3rd quarter. Triasima Portfolio Management inc. now owns 849,586 shares of the company’s stock valued at $6,088,000 after purchasing an additional 247,821 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in New Gold by 31.2% in the third quarter. CIBC Asset Management Inc now owns 1,462,328 shares of the company’s stock worth $10,464,000 after purchasing an additional 347,846 shares during the period. Institutional investors own 42.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on NGD. Scotiabank upped their price target on shares of New Gold to $12.75 and gave the stock an “outperform” rating in a research note on Monday, January 26th. TD Securities upgraded 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. Finally, Zacks Research upgraded New Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $8.18.

New Gold Price Performance

NYSE:NGD opened at $11.17 on Tuesday. 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 business has a 50 day simple moving average of $11.01 and a 200-day simple moving average of $8.52. The firm has a market capitalization of $8.85 billion, a price-to-earnings ratio of 85.93 and a beta of 0.57. New Gold Inc. has a 1 year low of $2.73 and a 1 year high of $13.63.

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.