New Gold Inc. $NGD Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd reduced its holdings in shares of New Gold Inc. (NYSE:NGD) by 81.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 376,400 shares of the company’s stock after selling 1,687,300 shares during the quarter. Quadrature Capital Ltd’s holdings in New Gold were worth $1,858,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Invesco Ltd. raised its stake in shares of New Gold by 16.9% in the 1st quarter. Invesco Ltd. now owns 15,761,737 shares of the company’s stock valued at $58,476,000 after acquiring an additional 2,280,732 shares during the period. American Century Companies Inc. boosted its position in New Gold by 3.0% during the 2nd quarter. American Century Companies Inc. now owns 15,610,823 shares of the company’s stock worth $77,586,000 after purchasing an additional 461,170 shares during the period. JPMorgan Chase & Co. increased its holdings in New Gold by 86.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,465,579 shares of the company’s stock valued at $56,755,000 after purchasing an additional 5,314,473 shares in the last quarter. JGP Global Gestao de Recursos Ltda. raised its position in 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 during the period. Finally, Amundi raised its position in 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 during the period. Institutional investors and hedge funds own 42.82% of the company’s stock.

New Gold Stock Up 4.7%

Shares of New Gold stock opened at $8.21 on Friday. New Gold Inc. has a 1-year low of $2.43 and a 1-year high of $8.38. The company has a market capitalization of $6.50 billion, a PE ratio of 63.16 and a beta of 0.52. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 0.84. The business has a 50-day moving average of $7.06 and a 200-day moving average of $5.72.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NGD shares. Raymond James Financial reaffirmed a “market perform” rating and issued a $7.00 target price on shares of New Gold in a research report on Friday, October 10th. National Bankshares reiterated an “outperform” rating on shares of New Gold in a report on Thursday, October 30th. Scotiabank boosted their price target on New Gold from $5.50 to $8.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. TD Securities restated a “hold” rating and issued a $7.50 price target on shares of New Gold in a report on Thursday, October 30th. Finally, CIBC increased their price objective on shares of New Gold from $6.50 to $9.50 and gave the company an “outperformer” rating in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, New Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.63.

About New Gold

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.