Quantbot Technologies LP Has $1.14 Million Stake in New Gold Inc. (NYSE:NGD)

Quantbot Technologies LP lowered its holdings in New Gold Inc. (NYSE:NGD) by 29.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 396,085 shares of the company’s stock after selling 169,296 shares during the quarter. Quantbot Technologies LP’s holdings in New Gold were worth $1,141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Allworth Financial LP lifted its stake in shares of New Gold by 941.8% in the third quarter. Allworth Financial LP now owns 10,418 shares of the company’s stock valued at $30,000 after buying an additional 9,418 shares in the last quarter. Eastern Bank bought a new position in New Gold in the 3rd quarter valued at about $33,000. Scientech Research LLC acquired a new position in New Gold during the 2nd quarter valued at about $28,000. Rathbones Group PLC bought a new stake in New Gold during the 2nd quarter worth approximately $36,000. Finally, NorthCrest Asset Manangement LLC purchased a new stake in shares of New Gold in the third quarter worth approximately $58,000. Institutional investors own 42.82% of the company’s stock.

New Gold Trading Up 0.4 %

Shares of New Gold stock opened at $2.75 on Friday. The firm has a market cap of $2.17 billion, a PE ratio of 137.50 and a beta of 1.31. New Gold Inc. has a 1 year low of $1.09 and a 1 year high of $3.25. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.84. The stock has a fifty day moving average price of $2.82 and a 200-day moving average price of $2.45.

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

Analyst Ratings Changes

Several research analysts recently issued reports on NGD shares. Royal Bank of Canada lifted their target price on New Gold from $3.00 to $3.50 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. StockNews.com raised shares of New Gold from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Finally, Scotiabank upped their target price 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. One analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus 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.