Quadrature Capital Ltd Has $2.37 Million Stake in New Gold Inc. (NYSE:NGD)

Quadrature Capital Ltd grew its stake in New Gold Inc. (NYSE:NGD) by 205.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,635,733 shares of the company’s stock after buying an additional 1,099,933 shares during the period. Quadrature Capital Ltd’s holdings in New Gold were worth $2,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of NGD. Hillsdale Investment Management Inc. grew its position in New Gold by 222.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 16,216,173 shares of the company’s stock worth $23,508,000 after purchasing an additional 11,186,898 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of New Gold by 346.6% during the 4th quarter. Mackenzie Financial Corp now owns 9,635,055 shares of the company’s stock valued at $13,968,000 after acquiring an additional 7,477,711 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of New Gold by 2.7% during the 4th quarter. Van ECK Associates Corp now owns 66,886,569 shares of the company’s stock valued at $97,655,000 after acquiring an additional 1,775,882 shares in the last quarter. Invenomic Capital Management LP boosted its position in shares of New Gold by 19.6% during the 4th quarter. Invenomic Capital Management LP now owns 10,101,164 shares of the company’s stock valued at $14,748,000 after acquiring an additional 1,654,396 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of New Gold by 33.5% during the 4th quarter. TD Asset Management Inc now owns 4,694,483 shares of the company’s stock valued at $6,836,000 after acquiring an additional 1,178,194 shares in the last quarter. 42.82% of the stock is currently owned by institutional investors and hedge funds.

New Gold Stock Down 0.0 %

Shares of NYSE NGD opened at $1.92 on Tuesday. New Gold Inc. has a 1-year low of $0.86 and a 1-year high of $2.31. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 32.83 and a beta of 1.48. The company has a quick ratio of 0.89, a current ratio of 1.51 and a debt-to-equity ratio of 0.54.

New Gold (NYSE:NGD) last announced its earnings results on Tuesday, April 30th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $192.10 million during the quarter. New Gold had a negative net margin of 9.81% and a positive return on equity of 5.23%. As a group, sell-side analysts forecast that New Gold Inc. will post 0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NGD. Scotiabank upgraded shares of New Gold from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $2.00 to $2.25 in a research report on Tuesday, May 21st. BMO Capital Markets initiated coverage on shares of New Gold in a research report on Friday, May 31st. They set an “outperform” rating and a $3.50 target price on the stock. National Bank Financial upgraded shares of New Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. TD Securities upgraded shares of New Gold from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, Cibc World Mkts upgraded shares of New Gold to a “strong-buy” rating in a research report on Monday, June 3rd. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2.12.

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.