Signition LP Boosts Stock Holdings in New Gold Inc (NYSEAMERICAN:NGD)

Signition LP lifted its holdings in New Gold Inc (NYSEAMERICAN:NGD) by 96.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,100 shares of the basic materials company’s stock after acquiring an additional 34,400 shares during the period. Signition LP’s holdings in New Gold were worth $71,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Exor Investments UK LLP increased its position in shares of New Gold by 26.6% in the second quarter. Exor Investments UK LLP now owns 27,626,907 shares of the basic materials company’s stock worth $26,558,000 after acquiring an additional 5,809,242 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of New Gold by 10.3% in the third quarter. Russell Investments Group Ltd. now owns 20,026,812 shares of the basic materials company’s stock worth $20,266,000 after acquiring an additional 1,870,669 shares in the last quarter. Morgan Stanley increased its position in shares of New Gold by 32.6% in the second quarter. Morgan Stanley now owns 17,781,978 shares of the basic materials company’s stock worth $17,093,000 after acquiring an additional 4,374,584 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of New Gold by 44.7% in the second quarter. Renaissance Technologies LLC now owns 13,764,730 shares of the basic materials company’s stock worth $13,232,000 after acquiring an additional 4,249,390 shares in the last quarter. Finally, TSP Capital Management Group LLC increased its position in shares of New Gold by 5.4% in the second quarter. TSP Capital Management Group LLC now owns 7,363,600 shares of the basic materials company’s stock worth $7,079,000 after acquiring an additional 377,850 shares in the last quarter. 51.53% of the stock is owned by institutional investors.

A number of equities research analysts recently weighed in on the stock. BidaskClub lowered shares of New Gold from a “buy” rating to a “hold” rating in a report on Saturday, August 31st. CIBC set a $1.40 price target on shares of New Gold and gave the company a “hold” rating in a report on Tuesday, October 15th. Zacks Investment Research raised shares of New Gold from a “hold” rating to a “buy” rating and set a $1.00 price target for the company in a report on Saturday, October 26th. Royal Bank of Canada raised shares of New Gold from an “underperform” rating to a “sector perform” rating and raised their price target for the company from $1.00 to $1.30 in a report on Thursday, September 5th. Finally, Raymond James set a $1.25 price target on shares of New Gold and gave the company a “market perform” rating in a report on Thursday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $1.17.

NGD traded down $0.01 during trading hours on Monday, reaching $0.85. 179,687 shares of the stock traded hands, compared to its average volume of 4,767,268. The firm’s fifty day simple moving average is $1.20 and its two-hundred day simple moving average is $0.98. New Gold Inc has a fifty-two week low of $0.61 and a fifty-two week high of $1.56.

New Gold (NYSEAMERICAN:NGD) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). The company had revenue of $168.40 million for the quarter.

About New Gold

New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the Rainy River project located in Ontario, Canada; the New Afton project located near Kamloops, British Columbia, Canada; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

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Institutional Ownership by Quarter for New Gold (NYSEAMERICAN:NGD)

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