JGP Global Gestao de Recursos Ltda. Has $75.51 Million Stake in New Gold Inc. $NGD

JGP Global Gestao de Recursos Ltda. decreased its holdings in New Gold Inc. (NYSE:NGD) by 0.7% in the third quarter, HoldingsChannel.com reports. The fund owned 10,516,700 shares of the company’s stock after selling 71,297 shares during the period. New Gold comprises about 43.9% of JGP Global Gestao de Recursos Ltda.’s portfolio, making the stock its largest holding. JGP Global Gestao de Recursos Ltda.’s holdings in New Gold were worth $75,510,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NGD. Burford Brothers Inc. bought a new position in New Gold in the 3rd quarter worth $81,000. SeaBridge Investment Advisors LLC purchased a new position in shares of New Gold during the third quarter valued at about $141,000. Byrne Asset Management LLC bought a new position in New Gold in the third quarter worth about $60,000. CWA Asset Management Group LLC lifted its holdings in New Gold by 386.4% in the third quarter. CWA Asset Management Group LLC now owns 165,662 shares of the company’s stock worth $1,189,000 after buying an additional 131,604 shares during the period. Finally, U S Global Investors Inc. boosted its position in New Gold by 262.9% during the 3rd quarter. U S Global Investors Inc. now owns 998,054 shares of the company’s stock valued at $7,166,000 after acquiring an additional 723,054 shares in the last quarter. Institutional investors own 42.82% of the company’s stock.

New Gold Stock Up 4.6%

Shares of NYSE:NGD opened at $10.00 on Friday. 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 stock has a fifty day simple moving average of $8.06 and a two-hundred day simple moving average of $6.56. New Gold Inc. has a 12-month low of $2.60 and a 12-month high of $10.05. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of 76.93 and a beta of 0.62.

Analysts Set New Price Targets

NGD has been the subject of several research reports. CIBC increased their target price on New Gold from $6.50 to $9.50 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Scotiabank increased their price objective on New Gold from $5.50 to $8.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Raymond James Financial reissued a “market perform” rating and set a $7.00 price objective on shares of New Gold in a research report on Friday, October 10th. National Bankshares restated an “outperform” rating on shares of New Gold in a report on Thursday, October 30th. Finally, TD Securities upgraded shares of New Gold from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $7.38.

New Gold Company 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.