New Gold (NYSE:NGD) Stock Unloaded Rep. Debbie Wasserman Schultz

Representative Debbie Wasserman Schultz (D-Florida) recently sold shares of New Gold Inc. (NYSE:NGD). In a filing disclosed on November 20th, the Representative disclosed that they had sold between $1,001 and $15,000 in New Gold stock on November 18th.

Representative Debbie Wasserman Schultz also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Baxter International (NYSE:BAX) on 11/18/2024.
• Purchased $1,001 – $15,000 in shares of Patterson-UTI Energy (NASDAQ:PTEN) on 10/23/2024.
• Purchased $1,001 – $15,000 in shares of Viasat (NASDAQ:VSAT) on 10/23/2024.

New Gold Price Performance

New Gold stock opened at $2.84 on Friday. The business has a 50-day simple moving average of $2.86 and a 200 day simple moving average of $2.42. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 141.75 and a beta of 1.31. The company has a quick ratio of 0.84, a current ratio of 1.42 and a debt-to-equity ratio of 0.45. New Gold Inc. has a 52 week low of $1.09 and a 52 week high of $3.25.

New Gold (NYSE:NGD) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. The company had revenue of $252.00 million for the quarter. New Gold had a net margin of 2.33% and a return on equity of 9.38%. On average, research analysts forecast that New Gold Inc. will post 0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NGD has been the subject of a number of recent analyst reports. StockNews.com raised New Gold from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. 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. Finally, Scotiabank increased their price target on shares of New Gold from $2.75 to $3.25 and gave the company a “sector outperform” rating in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, New Gold presently has a consensus rating of “Buy” and a consensus target price of $3.08.

Hedge Funds Weigh In On New Gold

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp grew its position in shares of New Gold by 5.0% during the 3rd quarter. Van ECK Associates Corp now owns 73,884,631 shares of the company’s stock valued at $215,743,000 after acquiring an additional 3,541,882 shares during the period. Dimensional Fund Advisors LP increased its position in New Gold by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,394,885 shares of the company’s stock worth $4,670,000 after purchasing an additional 200,799 shares during the last quarter. Old West Investment Management LLC lifted its stake in shares of New Gold by 42.9% in the 3rd quarter. Old West Investment Management LLC now owns 1,000,000 shares of the company’s stock valued at $2,880,000 after purchasing an additional 300,000 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in New Gold by 684.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,466,500 shares of the company’s stock worth $4,255,000 after purchasing an additional 1,279,500 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co purchased a new stake in New Gold in the third quarter worth $592,000. Hedge funds and other institutional investors own 42.82% of the company’s stock.

About Representative Wasserman Schultz

Debbie Wasserman Schultz (Democratic Party) is a member of the U.S. House, representing Florida’s 25th Congressional District. She assumed office on January 3, 2023. Her current term ends on January 3, 2025. Wasserman Schultz (Democratic Party) is running for re-election to the U.S. House to represent Florida’s 25th Congressional District. She declared candidacy for the Democratic primary scheduled on August 20, 2024. Wasserman Schultz was first elected to the U.S. House in 2004 from District 20. She previously represented District 34 of the Florida State Senate from 2003 to 2004, District 32 of the Florida State Senate from 2001 to 2003, and District 97 of the Florida House of Representatives from 1993 to 2001. She served as one of the Chief Deputy Whips of the Democratic caucus for the 113th Congress. She also served as the chair of the Democratic National Committee. On July 24, 2016, Wasserman Schultz announced that she would resign her leadership position at the end of the party’s convention. Wasserman Schultz was considered a possible candidate in 2016 for U.S. Senate. However, she announced on March 17, 2015, that she would not seek the Senate seat and would instead run for re-election to the House. Debbie Wasserman Schultz was born in Forest Hills, New York. Wasserman Schultz graduated from Half Hollow Hills High School East in 1984. She earned a B.A. and M.A. from the University of Florida in 1988 and 1990, respectively. Wasserman Schultz’s career experience includes working as a staffer to former U.S. Representative Peter Deutsch.

New Gold Company 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.