Candriam Luxembourg S.C.A. Invests $116,000 in New Gold Inc. (NYSEAMERICAN:NGD)

Candriam Luxembourg S.C.A. bought a new position in New Gold Inc. (NYSEAMERICAN:NGD) during the 3rd quarter, Holdings Channel.com reports. The firm bought 109,650 shares of the basic materials company’s stock, valued at approximately $116,000.

Other institutional investors have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. lifted its stake in New Gold by 53.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 25,239 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 8,824 shares during the period. Linscomb & Williams Inc. lifted its stake in New Gold by 63.5% in the third quarter. Linscomb & Williams Inc. now owns 41,200 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 16,000 shares during the period. Evanson Asset Management LLC purchased a new stake in New Gold in the third quarter worth $47,000. Private Advisor Group LLC lifted its stake in New Gold by 115.4% in the third quarter. Private Advisor Group LLC now owns 53,200 shares of the basic materials company’s stock worth $56,000 after acquiring an additional 28,500 shares during the period. Finally, HighTower Advisors LLC purchased a new stake in New Gold in the second quarter worth $67,000. Hedge funds and other institutional investors own 30.03% of the company’s stock.

Shares of NYSEAMERICAN:NGD opened at $1.64 on Friday. New Gold Inc. has a 1-year low of $1.01 and a 1-year high of $2.23. The company has a quick ratio of 1.68, a current ratio of 2.38 and a debt-to-equity ratio of 0.61. The firm has a market cap of $1.12 billion, a PE ratio of 14.25, a P/E/G ratio of 1.37 and a beta of 1.99.

New Gold (NYSEAMERICAN:NGD) last issued its quarterly earnings results on Friday, November 12th. The basic materials company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. New Gold had a positive return on equity of 8.82% and a negative net margin of 4.45%. The firm had revenue of $179.80 million during the quarter. On average, sell-side analysts predict that New Gold Inc. will post 0.14 EPS for the current fiscal year.

A number of analysts recently commented on NGD shares. Raymond James raised their price target on New Gold from $1.75 to $2.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 14th. TD Securities raised their price objective on New Gold from $1.50 to $1.75 and gave the company a “hold” rating in a research report on Monday, November 15th. National Bank Financial raised their price objective on New Gold from C$2.25 to C$2.50 and gave the company a “sector perform” rating in a research report on Monday, November 22nd. Zacks Investment Research raised New Gold from a “sell” rating to a “hold” rating in a research report on Wednesday, November 24th. Finally, Cormark reissued a “hold” rating on shares of New Gold in a research report on Friday, September 17th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.25.

About New Gold

New Gold Inc is a gold mining company, which is engaged in the operation, development and exploration of mineral properties. Its portfolio includes Rainy RIver, New Afton, and Cerro San Pedro. The company was founded on January 31, 1980 and is headquartered in Toronto, Canada.

Featured Story: Why do companies issue monthly dividends?

Want to see what other hedge funds are holding NGD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Gold Inc. (NYSEAMERICAN:NGD).

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

Receive News & Ratings for New Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Gold and related companies with MarketBeat.com's FREE daily email newsletter.