Sumitomo Mitsui Trust Holdings Inc. Makes New Investment in New Gold Inc. (NYSE:NGD)

Sumitomo Mitsui Trust Holdings Inc. purchased a new position in New Gold Inc. (NYSE:NGD) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 235,075 shares of the company’s stock, valued at approximately $458,000.

Other large investors have also bought and sold shares of the company. Coppell Advisory Solutions Corp. acquired a new stake in New Gold in the first quarter worth $30,000. Moloney Securities Asset Management LLC bought a new position in shares of New Gold in the first quarter valued at $42,000. Morton Capital Management LLC CA lifted its stake in shares of New Gold by 23.3% in the second quarter. Morton Capital Management LLC CA now owns 26,494 shares of the company’s stock valued at $52,000 after buying an additional 5,000 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its stake in shares of New Gold by 812.7% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 91,267 shares of the company’s stock valued at $132,000 after buying an additional 81,267 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of New Gold in the fourth quarter valued at $206,000. 42.82% of the stock is currently owned by institutional investors and hedge funds.

New Gold Stock Performance

NYSE NGD opened at $2.65 on Friday. New Gold Inc. has a 52-week low of $0.86 and a 52-week high of $2.73. The stock’s 50-day moving average is $2.21. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.50 and a quick ratio of 0.89. The stock has a market capitalization of $2.09 billion, a P/E ratio of -26.45 and a beta of 1.32.

New Gold (NYSE:NGD) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. New Gold had a negative net margin of 2.53% and a positive return on equity of 5.22%. The business had revenue of $218.20 million during the quarter. As a group, analysts forecast that New Gold Inc. will post 0.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on NGD. National Bank Financial raised shares of New Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 17th. CIBC raised their price target on shares of New Gold from $3.00 to $3.40 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. TD Securities raised shares of New Gold from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. BMO Capital Markets started coverage on shares of New Gold in a research report on Friday, May 31st. They set an “outperform” rating and a $3.50 price target on the stock. Finally, StockNews.com lowered shares of New Gold from a “buy” rating to a “hold” rating in a research report on Saturday. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2.49.

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.