Bradley Foster & Sargent Inc. CT Has $1.51 Million Stake in New Gold Inc. (NGD)

Bradley Foster & Sargent Inc. CT lifted its holdings in New Gold Inc. (NYSEAMERICAN:NGD) by 90.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 586,325 shares of the basic materials company’s stock after purchasing an additional 277,715 shares during the period. Bradley Foster & Sargent Inc. CT owned about 0.10% of New Gold worth $1,513,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in NGD. Investec Asset Management LTD purchased a new position in shares of New Gold in the 4th quarter valued at about $11,516,000. Renaissance Technologies LLC increased its stake in shares of New Gold by 661.3% in the 4th quarter. Renaissance Technologies LLC now owns 3,231,700 shares of the basic materials company’s stock valued at $10,632,000 after purchasing an additional 2,807,200 shares in the last quarter. Kopernik Global Investors LLC increased its stake in shares of New Gold by 37.6% in the 4th quarter. Kopernik Global Investors LLC now owns 10,071,864 shares of the basic materials company’s stock valued at $33,136,000 after purchasing an additional 2,754,539 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in New Gold by 78.1% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,426,365 shares of the basic materials company’s stock worth $4,693,000 after buying an additional 625,283 shares during the last quarter. Finally, Exane Derivatives boosted its holdings in New Gold by 59.3% in the 4th quarter. Exane Derivatives now owns 1,311,301 shares of the basic materials company’s stock worth $4,313,000 after buying an additional 487,995 shares during the last quarter. Hedge funds and other institutional investors own 51.53% of the company’s stock.

Several equities research analysts recently issued reports on the company. Royal Bank of Canada lowered their price objective on New Gold from $4.25 to $3.75 and set a “sector perform” rating on the stock in a report on Friday, February 2nd. Raymond James lowered their price objective on New Gold from $4.25 to $3.75 and set a “market perform” rating on the stock in a report on Thursday, February 22nd. Scotiabank upgraded New Gold from a “sector perform” rating to an “outperform” rating and set a $4.00 price objective on the stock in a report on Thursday, May 10th. Credit Suisse Group upgraded New Gold from an “underperform” rating to a “neutral” rating and set a $3.30 price objective on the stock in a report on Tuesday, May 8th. Finally, TD Securities lowered their price objective on New Gold from $5.00 to $4.50 and set a “buy” rating on the stock in a report on Friday, April 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $3.93.

Shares of New Gold stock opened at $2.30 on Friday. New Gold Inc. has a 1-year low of $2.32 and a 1-year high of $2.35. The company has a current ratio of 2.28, a quick ratio of 1.38 and a debt-to-equity ratio of 0.42.

New Gold (NYSEAMERICAN:NGD) last issued its earnings results on Wednesday, April 25th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.04). The company had revenue of $193.20 million for the quarter, compared to analyst estimates of $217.01 million. New Gold had a negative return on equity of 32.21% and a negative net margin of 92.82%. The company’s revenue for the quarter was up 55.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 earnings per share. research analysts expect that New Gold Inc. will post 0.05 earnings per share for the current year.

New Gold Profile

New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the New Afton project located near Kamloops, British Columbia, Canada; the Mesquite mine located in Imperial County, California, the United States; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

Institutional Ownership by Quarter for New Gold (NYSEAMERICAN:NGD)

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