22,545 Shares in New Gold Inc. $NGD Bought by GK Wealth Management LLC

GK Wealth Management LLC purchased a new stake in shares of New Gold Inc. (NYSE:NGD) during the second quarter, Holdings Channel reports. The fund purchased 22,545 shares of the company’s stock, valued at approximately $112,000.

Other hedge funds have also recently made changes to their positions in the company. Impala Asset Management LLC lifted its stake in shares of New Gold by 47.1% in the 1st quarter. Impala Asset Management LLC now owns 1,000,000 shares of the company’s stock valued at $3,710,000 after purchasing an additional 320,000 shares during the period. Plato Investment Management Ltd increased its holdings in New Gold by 31.1% in the first quarter. Plato Investment Management Ltd now owns 60,054 shares of the company’s stock worth $224,000 after purchasing an additional 14,238 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in New Gold by 4.5% in the first 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 during the period. Goldman Sachs Group Inc. boosted its holdings 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 worth $23,923,000 after buying an additional 2,760,692 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position 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. 42.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. CIBC increased their target price on shares of New Gold from $5.50 to $6.25 and gave the stock an “outperformer” rating in a research note on Tuesday, July 15th. National Bankshares reiterated an “outperform” rating on shares of New Gold in a report on Tuesday, September 9th. Finally, Raymond James Financial upgraded New Gold to a “hold” rating and set a $4.00 target price for the company in a research note on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $4.56.

New Gold Stock Performance

NGD stock opened at $6.74 on Tuesday. The firm has a market cap of $5.34 billion, a PE ratio of 51.85 and a beta of 0.43. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average of $5.16 and a 200-day moving average of $4.36. New Gold Inc. has a 12-month low of $2.43 and a 12-month high of $6.80.

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.