New Gold Inc. (NYSE:NGD) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. trimmed its holdings in shares of New Gold Inc. (NYSE:NGD) by 14.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,250 shares of the company’s stock after selling 9,500 shares during the period. Moors & Cabot Inc.’s holdings in New Gold were worth $159,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Van ECK Associates Corp grew its position in New Gold by 5.0% in the 3rd quarter. Van ECK Associates Corp now owns 73,884,631 shares of the company’s stock valued at $215,743,000 after buying an additional 3,541,882 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of 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 acquiring an additional 2,399,200 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of New Gold by 57.3% during the second quarter. Mackenzie Financial Corp now owns 16,328,086 shares of the company’s stock valued at $32,229,000 after acquiring an additional 5,948,394 shares during the period. Herr Investment Group LLC raised its holdings in New Gold by 40.4% during the second 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 in the last quarter. Finally, TD Asset Management Inc lifted its position in New Gold by 9.8% in the second quarter. TD Asset Management Inc now owns 4,129,508 shares of the company’s stock worth $8,148,000 after purchasing an additional 369,354 shares during the period. 42.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank of Canada boosted their price objective on New Gold from $3.00 to $3.50 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Scotiabank raised their price objective on shares of New Gold from $2.75 to $3.25 and gave the company a “sector outperform” rating in a research report on Tuesday, September 17th. Finally, StockNews.com upgraded shares of New Gold from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $3.08.

New Gold Price Performance

NGD stock opened at $2.83 on Monday. New Gold Inc. has a one year low of $1.09 and a one year high of $3.25. The firm has a 50-day moving average of $2.86 and a two-hundred day moving average of $2.43. The firm has a market capitalization of $2.24 billion, a PE ratio of 141.50 and a beta of 1.31. The company has a current ratio of 1.42, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

New Gold (NYSE:NGD) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. New Gold had a net margin of 2.33% and a return on equity of 9.38%. The firm had revenue of $252.00 million during the quarter. On average, analysts forecast that New Gold Inc. will post 0.18 earnings per share for the current year.

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.