New Gold Inc. (NYSE:NGD) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in New Gold Inc. (NYSE:NGD) by 46.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,343,005 shares of the company’s stock after selling 2,057,900 shares during the quarter. JPMorgan Chase & Co.’s holdings in New Gold were worth $6,748,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in NGD. State of New Jersey Common Pension Fund D acquired a new stake in shares of New Gold during the 2nd quarter valued at approximately $246,000. Rathbones Group PLC purchased a new position in New Gold in the 2nd quarter valued at approximately $36,000. Dimensional Fund Advisors LP raised its holdings in New Gold by 9.2% during 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. Renaissance Technologies LLC boosted its position in New Gold by 13.5% during the second quarter. Renaissance Technologies LLC now owns 20,111,264 shares of the company’s stock worth $39,217,000 after purchasing an additional 2,399,200 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. acquired a new stake in New Gold in the second quarter valued at $356,000. 42.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised New Gold from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, New Gold presently has an average rating of “Buy” and a consensus target price of $3.41.

New Gold Stock Performance

NYSE NGD opened at $2.73 on Thursday. 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 fifty-two week low of $1.09 and a fifty-two week high of $3.25. The business has a fifty day moving average of $2.68 and a 200-day moving average of $2.61. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 136.50 and a beta of 1.34.

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

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.