Montrusco Bolton Investments Inc. Sells 265,213 Shares of New Gold Inc. (NYSE:NGD)

Montrusco Bolton Investments Inc. cut its stake in New Gold Inc. (NYSE:NGD) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,242,547 shares of the company’s stock after selling 265,213 shares during the period. Montrusco Bolton Investments Inc. owned 0.66% of New Gold worth $13,086,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. DGS Capital Management LLC acquired a new position in shares of New Gold in the 4th quarter worth approximately $30,000. Lord Abbett & CO. LLC acquired a new position in New Gold in the third quarter valued at $4,435,000. Virtu Financial LLC bought a new stake in New Gold during the third quarter valued at $941,000. Toronto Dominion Bank boosted its position in New Gold by 92.6% during the third quarter. Toronto Dominion Bank now owns 110,318 shares of the company’s stock valued at $318,000 after acquiring an additional 53,051 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in New Gold by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 372,373 shares of the company’s stock worth $1,084,000 after acquiring an additional 7,394 shares during the period. Institutional investors and hedge funds own 42.82% of the company’s stock.

New Gold Trading Up 2.1 %

NGD opened at $2.87 on Wednesday. The company has a fifty day moving average price of $2.71 and a two-hundred day moving average price of $2.66. New Gold Inc. has a 1-year low of $1.09 and a 1-year high of $3.25. The company has a market cap of $2.27 billion, a P/E ratio of 25.55 and a beta of 1.34. 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 issued its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. The business had revenue of $252.00 million during the quarter. New Gold had a return on equity of 9.38% and a net margin of 2.33%. Analysts predict that New Gold Inc. will post 0.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised New Gold from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $3.41.

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.