Cubist Systematic Strategies LLC Acquires 11,995 Shares of New Gold Inc. (NYSE:NGD)

Cubist Systematic Strategies LLC boosted its stake in New Gold Inc. (NYSE:NGD) by 7.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 179,209 shares of the company’s stock after purchasing an additional 11,995 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in New Gold were worth $354,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in New Gold in the fourth quarter worth $206,000. Quadrature Capital Ltd boosted its holdings in shares of New Gold by 205.3% during the 4th quarter. Quadrature Capital Ltd now owns 1,635,733 shares of the company’s stock valued at $2,374,000 after buying an additional 1,099,933 shares in the last quarter. Van ECK Associates Corp grew its position in shares of New Gold by 8.4% in the 1st quarter. Van ECK Associates Corp now owns 72,499,714 shares of the company’s stock worth $123,249,000 after buying an additional 5,613,145 shares during the period. Moloney Securities Asset Management LLC bought a new position in shares of New Gold in the 1st quarter worth about $42,000. Finally, Oppenheimer & Close LLC lifted its position in New Gold by 99.9% during the 1st quarter. Oppenheimer & Close LLC now owns 1,692,870 shares of the company’s stock valued at $2,878,000 after acquiring an additional 846,000 shares during the period. Institutional investors own 42.82% of the company’s stock.

New Gold Stock Up 0.4 %

NYSE NGD opened at $2.82 on Monday. New Gold Inc. has a 52 week low of $1.00 and a 52 week high of $3.25. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.50 and a quick ratio of 0.98. The company has a market capitalization of $2.23 billion, a P/E ratio of -28.20 and a beta of 1.30. The stock has a 50-day moving average of $2.67.

New Gold (NYSE:NGD) last issued its earnings results on Tuesday, July 30th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $218.20 million during the quarter. Research analysts anticipate that New Gold Inc. will post 0.15 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on NGD. Royal Bank of Canada boosted their price target on New Gold from $3.00 to $3.50 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. CIBC increased their target price on New Gold from $3.00 to $3.40 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Cibc World Mkts raised New Gold to a “strong-buy” rating in a research report on Wednesday, July 10th. StockNews.com upgraded shares of New Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. 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. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price 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.