Samalin Investment Counsel LLC Grows Position in New Gold Inc. $NGD

Samalin Investment Counsel LLC increased its position in New Gold Inc. (NYSE:NGD) by 130.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 30,000 shares of the company’s stock after purchasing an additional 17,000 shares during the period. Samalin Investment Counsel LLC’s holdings in New Gold were worth $111,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Pale Fire Capital SE purchased a new stake in shares of New Gold in the 1st quarter worth about $23,920,000. JGP Global Gestao de Recursos Ltda. boosted its stake in New Gold by 64.4% during the first quarter. JGP Global Gestao de Recursos Ltda. now owns 10,687,997 shares of the company’s stock worth $39,652,000 after acquiring an additional 4,187,997 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in New Gold by 97.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,944,585 shares of the company’s stock worth $14,742,000 after acquiring an additional 2,931,470 shares in the last quarter. American Century Companies Inc. grew its holdings in New Gold by 23.7% in the first quarter. American Century Companies Inc. now owns 15,149,653 shares of the company’s stock worth $56,033,000 after purchasing an additional 2,898,895 shares during the period. Finally, Nokomis Capital L.L.C. increased its stake in shares of New Gold by 203.8% during the fourth quarter. Nokomis Capital L.L.C. now owns 4,147,296 shares of the company’s stock valued at $10,285,000 after purchasing an additional 2,782,296 shares in the last quarter. Institutional investors own 42.82% of the company’s stock.

New Gold Stock Performance

Shares of NGD opened at $5.69 on Thursday. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 43.77 and a beta of 0.38. The business’s fifty day simple moving average is $4.81 and its two-hundred day simple moving average is $4.04. New Gold Inc. has a 12 month low of $2.31 and a 12 month high of $5.72. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38.

Wall Street Analyst Weigh In

NGD has been the topic of a number of analyst reports. Wall Street Zen raised New Gold from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. National Bankshares reiterated an “outperform” rating on shares of New Gold in a research note on Tuesday, June 24th. CIBC boosted their target price on New Gold from $5.50 to $6.25 and gave the stock an “outperformer” rating in a report on Tuesday, July 15th. Finally, Raymond James Financial upgraded New Gold to a “hold” rating and set a $4.00 price target for the company in a report on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $4.38.

New Gold Profile

New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company’s principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.