New Gold Inc. $NGD Shares Acquired by TD Asset Management Inc

TD Asset Management Inc raised its stake in shares of New Gold Inc. (NYSE:NGD) by 6.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,233,644 shares of the company’s stock after acquiring an additional 192,791 shares during the period. TD Asset Management Inc’s holdings in New Gold were worth $16,044,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Pale Fire Capital SE acquired a new position in shares of New Gold in the first quarter valued at approximately $23,920,000. JGP Global Gestao de Recursos Ltda. grew its holdings in shares of New Gold by 64.4% in the first quarter. JGP Global Gestao de Recursos Ltda. now owns 10,687,997 shares of the company’s stock valued at $39,652,000 after purchasing an additional 4,187,997 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of New Gold by 23.7% in the first quarter. American Century Companies Inc. now owns 15,149,653 shares of the company’s stock valued at $56,033,000 after purchasing an additional 2,898,895 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of New Gold by 74.9% in the first quarter. Goldman Sachs Group Inc. now owns 6,448,313 shares of the company’s stock valued at $23,923,000 after purchasing an additional 2,760,692 shares in the last quarter. Finally, Amundi grew its holdings in shares of New Gold by 42.2% in the first quarter. Amundi now owns 8,356,029 shares of the company’s stock valued at $29,580,000 after purchasing an additional 2,478,303 shares in the last quarter. 42.82% of the stock is currently owned by institutional investors and hedge funds.

New Gold Trading Down 7.1%

NYSE NGD opened at $6.96 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38. New Gold Inc. has a 52 week low of $2.43 and a 52 week high of $7.59. The stock has a market capitalization of $5.51 billion, a PE ratio of 53.54 and a beta of 0.46. The firm has a 50 day moving average of $6.36 and a two-hundred day moving average of $4.98.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NGD. National Bankshares restated an “outperform” rating on shares of New Gold in a report on Tuesday, September 9th. CIBC lifted their price objective on shares of New Gold from $6.50 to $9.50 and gave the company an “outperformer” rating in a report on Friday, October 10th. Finally, Raymond James Financial restated a “market perform” rating and issued a $7.00 price objective on shares of New Gold in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $5.81.

New Gold Company 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.