Heartland Advisors Inc. Cuts Stock Holdings in New Gold Inc. $NGD

Heartland Advisors Inc. lessened its position in shares of New Gold Inc. (NYSE:NGD) by 50.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,000,000 shares of the company’s stock after selling 1,000,000 shares during the quarter. Heartland Advisors Inc. owned approximately 0.13% of New Gold worth $7,180,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NGD. Millennium Management LLC grew its position in shares of New Gold by 91.1% during the 1st quarter. Millennium Management LLC now owns 1,792,631 shares of the company’s stock valued at $6,642,000 after acquiring an additional 854,586 shares during the period. NewEdge Advisors LLC raised its stake in shares of New Gold by 99.1% during the 1st quarter. NewEdge Advisors LLC now owns 80,375 shares of the company’s stock worth $298,000 after buying an additional 40,000 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of New Gold by 74.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,448,313 shares of the company’s stock valued at $23,923,000 after buying an additional 2,760,692 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of New Gold by 4.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 951,651 shares of the company’s stock valued at $3,531,000 after buying an additional 40,995 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in New Gold by 17.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 83,525 shares of the company’s stock valued at $413,000 after acquiring an additional 12,425 shares during the period. Institutional investors and hedge funds own 42.82% of the company’s stock.

New Gold Stock Up 7.1%

NGD stock opened at $11.06 on Tuesday. New Gold Inc. has a one year low of $2.60 and a one year high of $13.63. The firm has a market cap of $8.76 billion, a PE ratio of 85.08 and a beta of 0.59. The firm’s 50 day moving average price is $10.00 and its 200-day moving average price is $7.77. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.39.

Wall Street Analysts Forecast Growth

NGD has been the topic of several recent analyst reports. TD Securities raised shares of New Gold from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Monday, December 1st. Scotiabank boosted their price objective on New Gold to $12.75 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Zacks Research upgraded New Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Finally, National Bank Financial reaffirmed an “outperform” rating on shares of New Gold in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $8.18.

New Gold Profile

New Gold Inc is a Canadian-based intermediate precious metals producer focused on the exploration, development and operation of gold and copper mining assets. The company was formed in 2008 through the merger of two exploration firms and has since grown into a multi-asset mining platform. Headquartered in Toronto, New Gold emphasizes a disciplined approach to capital allocation and operational execution, with a commitment to environmental stewardship and strong community relations.

New Gold’s principal producing assets include the New Afton Mine in British Columbia and the Rainy River Mine in northwestern Ontario.