New Gold Inc. $NGD Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd reduced its stake in shares of New Gold Inc. (NYSE:NGD) by 81.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 376,400 shares of the company’s stock after selling 1,687,300 shares during the quarter. Quadrature Capital Ltd’s holdings in New Gold were worth $1,858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Employees Retirement System of Texas acquired a new stake in New Gold in the 2nd quarter valued at about $32,000. Cary Street Partners Financial LLC purchased a new stake in New Gold in the 1st quarter valued at approximately $37,000. SBI Securities Co. Ltd. grew its holdings in 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 buying an additional 8,472 shares during the last quarter. Private Advisor Group LLC acquired a new stake in New Gold during the 1st quarter valued at $50,000. Finally, Wealthspire Advisors LLC purchased a new position in New Gold during the second quarter worth $50,000. 42.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on NGD shares. CIBC increased their price objective on New Gold from $6.50 to $9.50 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Raymond James Financial reaffirmed a “market perform” rating and issued a $7.00 target price on shares of New Gold in a research note on Friday, October 10th. Scotiabank boosted their price target on New Gold from $5.50 to $8.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. National Bankshares reissued an “outperform” rating on shares of New Gold in a research note on Thursday, October 30th. Finally, TD Securities restated a “hold” rating and set a $7.50 price objective on shares of New Gold in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.63.

New Gold Stock Up 4.7%

Shares of NYSE NGD opened at $8.21 on Friday. New Gold Inc. has a 52-week low of $2.43 and a 52-week high of $8.38. The firm has a fifty day moving average of $7.06 and a 200-day moving average of $5.72. The stock has a market capitalization of $6.50 billion, a PE ratio of 63.16 and a beta of 0.52. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38.

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.