New Gold Inc. (NYSE:NGD) Shares Sold by American Century Companies Inc.

American Century Companies Inc. decreased its holdings in shares of New Gold Inc. (NYSE:NGD) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,657,217 shares of the company’s stock after selling 309,767 shares during the period. American Century Companies Inc.’s holdings in New Gold were worth $20,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Morton Capital Management LLC CA lifted its holdings in New Gold by 23.3% during the second quarter. Morton Capital Management LLC CA now owns 26,494 shares of the company’s stock valued at $52,000 after purchasing an additional 5,000 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new position in shares of New Gold during the 1st quarter worth about $30,000. Moloney Securities Asset Management LLC purchased a new position in New Gold in the 1st quarter valued at about $42,000. Monaco Asset Management SAM boosted its holdings in New Gold by 8.6% in the 2nd quarter. Monaco Asset Management SAM now owns 440,000 shares of the company’s stock worth $858,000 after buying an additional 35,000 shares during the last quarter. Finally, Virtu Financial LLC boosted its holdings in New Gold by 27.9% in the 1st quarter. Virtu Financial LLC now owns 180,386 shares of the company’s stock worth $307,000 after buying an additional 39,340 shares during the last quarter. Institutional investors and hedge funds own 42.82% of the company’s stock.

New Gold Trading Up 2.5 %

Shares of NGD stock opened at $3.07 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.50. New Gold Inc. has a twelve month low of $0.86 and a twelve month high of $3.20. The firm’s 50-day moving average price is $2.44. The firm has a market cap of $2.42 billion, a PE ratio of -30.65 and a beta of 1.29.

New Gold (NYSE:NGD) last posted its earnings results on Tuesday, July 30th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $218.20 million for the quarter. New Gold had a negative net margin of 2.53% and a positive return on equity of 5.22%. As a group, equities research analysts predict that New Gold Inc. will post 0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NGD shares. BMO Capital Markets started coverage on New Gold in a research report on Friday, May 31st. They issued an “outperform” rating and a $3.50 target price on the stock. Scotiabank raised their price objective on New Gold from $2.75 to $3.25 and gave the company a “sector outperform” rating in a report on Tuesday. CIBC upped their target price on shares of New Gold from $3.00 to $3.40 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Cibc World Mkts raised shares of New Gold to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada upped their price objective on shares of New Gold from $3.00 to $3.50 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, New Gold presently has a consensus rating of “Moderate Buy” and an average price target of $2.74.

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.