New Gold Inc. (NYSE:NGD) Shares Purchased by Captrust Financial Advisors

Captrust Financial Advisors increased its stake in shares of New Gold Inc. (NYSE:NGD) by 17.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,700 shares of the company’s stock after purchasing an additional 6,700 shares during the period. Captrust Financial Advisors’ holdings in New Gold were worth $129,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Allworth Financial LP raised its holdings in New Gold by 941.8% in the 3rd quarter. Allworth Financial LP now owns 10,418 shares of the company’s stock valued at $30,000 after acquiring an additional 9,418 shares during the last quarter. Eastern Bank acquired a new position in New Gold in the 3rd quarter valued at $33,000. Scientech Research LLC acquired a new position in New Gold in the 2nd quarter valued at $28,000. Rathbones Group PLC acquired a new position in New Gold in the 2nd quarter valued at $36,000. Finally, NorthCrest Asset Manangement LLC acquired a new position in New Gold in the 3rd quarter valued at $58,000. 42.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NGD. Scotiabank boosted their price objective on shares of New Gold from $2.75 to $3.25 and gave the company a “sector outperform” rating in a research note on Tuesday, September 17th. StockNews.com raised shares of New Gold from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada upped their price target on shares of New Gold from $3.00 to $3.50 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $3.41.

New Gold Stock Performance

NYSE:NGD opened at $2.70 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.42 and a quick ratio of 0.84. The firm has a 50-day moving average of $2.80 and a two-hundred day moving average of $2.53. The stock has a market cap of $2.14 billion, a P/E ratio of 135.00 and a beta of 1.32. New Gold Inc. has a 1-year low of $1.09 and a 1-year high of $3.25.

New Gold (NYSE:NGD) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. The business had revenue of $252.00 million for the quarter. New Gold had a net margin of 2.33% and a return on equity of 9.38%. On average, research analysts expect that New Gold Inc. will post 0.18 earnings per share for the current fiscal 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.