Montrusco Bolton Investments Inc. Sells 265,213 Shares of New Gold Inc. (NYSE:NGD)

Montrusco Bolton Investments Inc. cut its holdings in shares of New Gold Inc. (NYSE:NGD) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,242,547 shares of the company’s stock after selling 265,213 shares during the period. Montrusco Bolton Investments Inc.’s holdings in New Gold were worth $13,086,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NGD. DGS Capital Management LLC acquired a new position in New Gold during the 4th quarter valued at about $30,000. Lord Abbett & CO. LLC purchased a new stake in shares of New Gold in the third quarter worth approximately $4,435,000. Virtu Financial LLC bought a new position in shares of New Gold in the third quarter valued at approximately $941,000. Toronto Dominion Bank boosted its position in shares of New Gold by 92.6% during the third quarter. Toronto Dominion Bank now owns 110,318 shares of the company’s stock valued at $318,000 after buying an additional 53,051 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in New Gold by 2.0% during the third quarter. Geode Capital Management LLC now owns 372,373 shares of the company’s stock worth $1,084,000 after buying an additional 7,394 shares in the last quarter. 42.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded New Gold from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $3.41.

New Gold Stock Performance

Shares of New Gold stock opened at $2.87 on Wednesday. The firm has a market capitalization of $2.27 billion, a P/E ratio of 25.55 and a beta of 1.34. The company has a current ratio of 1.42, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $2.71 and its 200 day simple moving average is $2.66. New Gold Inc. has a 12 month low of $1.09 and a 12 month high of $3.25.

New Gold (NYSE:NGD) last released its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. New Gold had a return on equity of 9.38% and a net margin of 2.33%. The company had revenue of $252.00 million for the quarter. As a group, analysts anticipate that New Gold Inc. will post 0.18 EPS for the current year.

New Gold Company 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.