New Gold Inc. $NGD Shares Sold by Oppenheimer & Close LLC

Oppenheimer & Close LLC decreased its stake in New Gold Inc. (NYSE:NGD) by 32.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 701,555 shares of the company’s stock after selling 337,900 shares during the period. New Gold makes up 3.4% of Oppenheimer & Close LLC’s investment portfolio, making the stock its 11th largest holding. Oppenheimer & Close LLC’s holdings in New Gold were worth $5,037,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Employees Retirement System of Texas acquired a new stake in New Gold in the 2nd quarter valued at about $32,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of New Gold in the third quarter valued at $41,000. SBI Securities Co. Ltd. increased its stake in shares of New Gold by 1,837.7% during the 2nd quarter. SBI Securities Co. Ltd. now owns 8,933 shares of the company’s stock valued at $44,000 after acquiring an additional 8,472 shares during the last quarter. Wealthspire Advisors LLC acquired a new position in New Gold during the second quarter worth approximately $50,000. Finally, Global Retirement Partners LLC grew its stake in shares of New Gold by 190.7% during the 3rd quarter. Global Retirement Partners LLC now owns 7,031 shares of the company’s stock valued at $50,000 after buying an additional 4,612 shares during the period. Hedge funds and other institutional investors own 42.82% of the company’s stock.

Analysts Set New Price Targets

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

New Gold Stock Up 2.7%

Shares of NYSE:NGD opened at $12.22 on Friday. The firm has a market cap of $9.68 billion, a PE ratio of 94.01 and a beta of 0.59. The company has a fifty day simple moving average of $10.27 and a 200 day simple moving average of $7.95. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. New Gold Inc. has a 12-month low of $2.60 and a 12-month high of $13.63.

About New Gold

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.