New Gold Inc. $NGD is Apis Capital Advisors LLC’s 8th Largest Position

Apis Capital Advisors LLC grew its holdings in New Gold Inc. (NYSE:NGD) by 25.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,194,000 shares of the company’s stock after acquiring an additional 646,000 shares during the period. New Gold comprises approximately 5.1% of Apis Capital Advisors LLC’s portfolio, making the stock its 8th largest position. Apis Capital Advisors LLC owned 0.40% of New Gold worth $22,933,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new position in New Gold in the third quarter valued at $41,000. MAI Capital Management purchased a new stake in New Gold during the 3rd quarter worth about $43,000. Employees Retirement System of Texas purchased a new stake in New Gold during the 2nd quarter worth about $32,000. Global Retirement Partners LLC raised its position in 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 purchasing an additional 4,612 shares in the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in New Gold in the 3rd quarter valued at about $60,000. Hedge funds and other institutional investors own 42.82% of the company’s stock.

New Gold Price Performance

Shares of NYSE:NGD opened at $9.98 on Friday. New Gold Inc. has a 12 month low of $2.89 and a 12 month high of $13.63. The firm has a market capitalization of $7.90 billion, a P/E ratio of 76.78 and a beta of 0.57. 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’s fifty day moving average price is $11.18 and its 200 day moving average price is $8.65.

Analyst Ratings Changes

NGD has been the subject of a number of analyst reports. Scotiabank boosted their price objective on New Gold to $12.75 and gave the stock an “outperform” rating in a research report on Monday, January 26th. TD Securities raised shares of New Gold from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Monday, December 1st. Finally, Zacks Research upgraded shares of New Gold from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $8.18.

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.