84,114 Shares in New Gold Inc. (NYSEAMERICAN:NGD) Acquired by Independent Family Office LLC

Independent Family Office LLC purchased a new position in shares of New Gold Inc. (NYSEAMERICAN:NGD) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 84,114 shares of the basic materials company’s stock, valued at approximately $123,000.

Several other institutional investors also recently bought and sold shares of NGD. Mackenzie Financial Corp grew its stake in New Gold by 346.6% during the fourth quarter. Mackenzie Financial Corp now owns 9,635,055 shares of the basic materials company’s stock worth $13,968,000 after buying an additional 7,477,711 shares during the period. Invesco Ltd. boosted its stake in shares of New Gold by 48.4% in the first quarter. Invesco Ltd. now owns 16,612,687 shares of the basic materials company’s stock valued at $29,903,000 after purchasing an additional 5,421,488 shares during the period. Heartland Advisors Inc. purchased a new position in shares of New Gold in the third quarter valued at $3,185,000. Deutsche Bank AG purchased a new position in shares of New Gold in the fourth quarter valued at $2,634,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of New Gold by 109.0% in the second quarter. JPMorgan Chase & Co. now owns 4,965,363 shares of the basic materials company’s stock valued at $5,363,000 after purchasing an additional 2,589,577 shares during the period. 42.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on NGD shares. StockNews.com downgraded shares of New Gold from a “buy” rating to a “hold” rating in a research note on Sunday, January 14th. Scotiabank increased their price objective on shares of New Gold from $1.65 to $2.00 and gave the company a “sector perform” rating in a research note on Monday, April 8th. Finally, National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of New Gold in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, New Gold currently has a consensus rating of “Hold” and a consensus price target of $1.64.

New Gold Stock Performance

New Gold stock remained flat at $1.76 during trading hours on Tuesday. 5,407,044 shares of the company’s stock traded hands, compared to its average volume of 6,118,095. The firm has a market cap of $1.21 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 0.96 and a beta of 1.54. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.54. New Gold Inc. has a 52-week low of $0.86 and a 52-week high of $1.94.

New Gold (NYSEAMERICAN:NGD) last posted its quarterly earnings data on Tuesday, February 13th. The basic materials company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). New Gold had a negative net margin of 8.20% and a positive return on equity of 5.63%. The business had revenue of $199.20 million for the quarter. Research analysts expect that New Gold Inc. will post 0.05 earnings per share for the current fiscal year.

New Gold Profile

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.