Midwest Trust Co Makes New Investment in New Gold Inc. $NGD

Midwest Trust Co purchased a new stake in shares of New Gold Inc. (NYSE:NGD) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 97,500 shares of the company’s stock, valued at approximately $483,000.

A number of other large investors have also recently bought and sold shares of NGD. DJE Kapital AG increased its stake in shares of New Gold by 577.5% in the second quarter. DJE Kapital AG now owns 529,100 shares of the company’s stock worth $2,571,000 after acquiring an additional 451,000 shares during the period. CSM Advisors LLC acquired a new position in shares of New Gold in the 2nd quarter valued at about $6,321,000. RWA Wealth Partners LLC purchased a new stake in shares of New Gold in the second quarter worth about $644,000. AE Wealth Management LLC acquired a new stake in New Gold during the second quarter worth about $91,000. Finally, Versor Investments LP purchased a new position in New Gold during the second quarter valued at approximately $556,000. Hedge funds and other institutional investors own 42.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. TD Securities reaffirmed a “hold” rating and set a $7.50 target price on shares of New Gold in a report on Thursday, October 30th. National Bankshares reiterated an “outperform” rating on shares of New Gold in a research report on Thursday, October 30th. Scotiabank increased their price target on New Gold from $5.50 to $8.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Raymond James Financial reiterated a “market perform” rating and set a $7.00 target price on shares of New Gold in a research report on Friday, October 10th. Finally, CIBC lifted their target price on shares of New Gold from $6.50 to $9.50 and gave the company an “outperformer” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.63.

New Gold Stock Up 2.4%

NGD stock opened at $7.30 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average of $6.84 and a two-hundred day moving average of $5.41. New Gold Inc. has a 12 month low of $2.43 and a 12 month high of $7.71. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 56.16 and a beta of 0.52.

About New Gold

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.