New Gold Inc. (NYSE:NGD) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its position in shares of New Gold Inc. (NYSE:NGD) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,385,704 shares of the company’s stock after selling 85,000 shares during the quarter. Franklin Resources Inc. owned 1.06% of New Gold worth $23,906,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake in New Gold by 5.0% during the 3rd quarter. Van ECK Associates Corp now owns 73,884,631 shares of the company’s stock valued at $215,743,000 after acquiring an additional 3,541,882 shares during the period. Renaissance Technologies LLC boosted its holdings in New Gold by 13.5% in the second quarter. Renaissance Technologies LLC now owns 20,111,264 shares of the company’s stock valued at $39,217,000 after purchasing an additional 2,399,200 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in New Gold by 57.3% in the second quarter. Mackenzie Financial Corp now owns 16,328,086 shares of the company’s stock valued at $32,229,000 after purchasing an additional 5,948,394 shares during the last quarter. Herr Investment Group LLC grew its position in New Gold by 40.4% during the 2nd quarter. Herr Investment Group LLC now owns 5,210,363 shares of the company’s stock worth $10,160,000 after purchasing an additional 1,499,745 shares during the period. Finally, Two Sigma Advisers LP raised its stake in shares of New Gold by 18.7% during the 3rd quarter. Two Sigma Advisers LP now owns 4,322,930 shares of the company’s stock valued at $12,450,000 after buying an additional 681,822 shares during the last quarter. Hedge funds and other institutional investors own 42.82% of the company’s stock.

New Gold Trading Down 1.6 %

Shares of NYSE:NGD opened at $2.48 on Friday. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 124.00 and a beta of 1.32. The business’s 50 day moving average price is $2.79 and its 200-day moving average price is $2.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.84. New Gold Inc. has a 1 year low of $1.09 and a 1 year high of $3.25.

New Gold (NYSE:NGD) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.04. New Gold had a net margin of 2.33% and a return on equity of 9.38%. The business had revenue of $252.00 million for the quarter. On average, equities research analysts forecast that New Gold Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NGD. Royal Bank of Canada raised their target price on New Gold from $3.00 to $3.50 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Scotiabank raised their price objective on shares of New Gold from $2.75 to $3.25 and gave the stock a “sector outperform” rating in a research note on Tuesday, September 17th. Finally, StockNews.com upgraded shares of New Gold from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, New Gold currently has an average rating of “Buy” and an average target price of $3.41.

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.