New Gold Inc. $NGD Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC decreased its stake in New Gold Inc. (NYSE:NGD) by 13.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,538,000 shares of the company’s stock after selling 230,000 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 0.19% of New Gold worth $11,043,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NGD. Creative Planning raised its position in New Gold by 8.1% during the second quarter. Creative Planning now owns 27,575 shares of the company’s stock valued at $136,000 after acquiring an additional 2,071 shares in the last quarter. TD Waterhouse Canada Inc. boosted its position in New Gold by 8.9% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 25,942 shares of the company’s stock worth $189,000 after purchasing an additional 2,129 shares in the last quarter. Russell Investments Group Ltd. boosted its position in New Gold by 0.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 473,856 shares of the company’s stock worth $2,342,000 after purchasing an additional 2,679 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in shares of New Gold by 8.1% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 53,500 shares of the company’s stock worth $383,000 after purchasing an additional 4,000 shares during the period. Finally, Global Retirement Partners LLC grew its stake in shares of New Gold by 190.7% during the 3rd quarter. Global Retirement Partners LLC now owns 7,031 shares of the company’s stock worth $50,000 after purchasing an additional 4,612 shares during the period. 42.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NGD. 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. Zacks Research upgraded shares of New Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, Scotiabank lifted their price objective on shares of New Gold to $12.75 and gave the company an “outperform” rating in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $8.18.

New Gold Stock Performance

Shares of NGD stock opened at $9.98 on Monday. 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 12-month low of $2.89 and a 12-month high of $13.63. The business’s 50 day moving average is $11.18 and its two-hundred day moving average is $8.67. The company has a market capitalization of $7.90 billion, a P/E ratio of 76.78 and a beta of 0.57.

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.