New Gold Inc. (NYSE:NGD) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its holdings in shares of New Gold Inc. (NYSE:NGD) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,356,362 shares of the company’s stock after selling 147,800 shares during the period. Swiss National Bank’s holdings in New Gold were worth $1,969,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Van ECK Associates Corp lifted its holdings in New Gold by 2.7% in the fourth quarter. Van ECK Associates Corp now owns 66,886,569 shares of the company’s stock worth $97,655,000 after acquiring an additional 1,775,882 shares during the last quarter. Intact Investment Management Inc. lifted its holdings in shares of New Gold by 6.4% in the 4th quarter. Intact Investment Management Inc. now owns 2,970,000 shares of the company’s stock worth $4,304,000 after purchasing an additional 177,800 shares during the last quarter. Independent Family Office LLC acquired a new position in New Gold during the 4th quarter valued at approximately $123,000. Mackenzie Financial Corp grew its stake in New Gold by 346.6% during the 4th quarter. Mackenzie Financial Corp now owns 9,635,055 shares of the company’s stock worth $13,968,000 after buying an additional 7,477,711 shares during the last quarter. Finally, Ingalls & Snyder LLC increased its position in New Gold by 116.6% in the fourth quarter. Ingalls & Snyder LLC now owns 123,842 shares of the company’s stock worth $181,000 after buying an additional 66,667 shares during the period. 42.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NGD. TD Securities raised shares of New Gold from a “sell” rating to a “hold” rating in a report on Tuesday. National Bank Financial upgraded shares of New Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. Scotiabank upgraded New Gold from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $2.00 to $2.25 in a research report on Tuesday. Finally, StockNews.com upgraded New Gold from a “hold” rating to a “buy” rating in a research report on Monday, May 20th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, New Gold presently has an average rating of “Moderate Buy” and a consensus target price of $1.69.

New Gold Trading Up 4.2 %

New Gold stock opened at $1.97 on Friday. New Gold Inc. has a 12-month low of $0.86 and a 12-month high of $2.19. The company has a market capitalization of $1.56 billion, a PE ratio of -19.70 and a beta of 1.53. The company has a quick ratio of 0.89, a current ratio of 1.51 and a debt-to-equity ratio of 0.54.

New Gold (NYSE:NGD) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. New Gold had a positive return on equity of 5.23% and a negative net margin of 9.81%. The company had revenue of $192.10 million for the quarter. As a group, equities analysts predict that New Gold Inc. will post 0.11 EPS for the current year.

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.