Aquatic Capital Management LLC Cuts Holdings in New Gold Inc. $NGD

Aquatic Capital Management LLC decreased its stake in New Gold Inc. (NYSE:NGD) by 23.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,019,393 shares of the company’s stock after selling 317,100 shares during the period. Aquatic Capital Management LLC owned about 0.13% of New Gold worth $7,319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NGD. Creative Planning increased its stake in New Gold by 8.1% in 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 during the last quarter. TD Waterhouse Canada Inc. lifted its stake in New Gold by 8.9% during the third 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 during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of 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 boosted its holdings in shares of New Gold by 8.1% in 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 in the last quarter. Finally, Global Retirement Partners LLC increased its position 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 valued at $50,000 after purchasing an additional 4,612 shares during the last quarter. Hedge funds and other institutional investors own 42.82% of the company’s stock.

New Gold Stock Down 6.9%

Shares of NYSE:NGD opened at $9.98 on Monday. The stock’s 50-day moving average price is $11.18 and its 200-day moving average price is $8.67. New Gold Inc. has a 12-month low of $2.89 and a 12-month high of $13.63. The stock 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 current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38.

Analysts Set New Price Targets

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

New Gold 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.