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Alps Advisors Inc. Buys 2,705,389 Shares of New Gold Inc. (NGD)
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Other large investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in New Gold by 40.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 252,112 shares of the company’s stock valued at $750,000 after buying an additional 72,400 shares in the last quarter. Comerica Bank raised its stake in New Gold by 5.9% in the first quarter. Comerica Bank now owns 63,328 shares of the company’s stock valued at $176,000 after buying an additional 3,513 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in New Gold by 60.8% in the first quarter. BNP Paribas Arbitrage SA now owns 370,497 shares of the company’s stock valued at $1,104,000 after buying an additional 140,104 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in New Gold by 712.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 2,295,731 shares of the company’s stock valued at $6,841,000 after buying an additional 2,013,335 shares in the last quarter. Finally, Arete Wealth Advisors LLC raised its stake in New Gold by 35.2% in the first quarter. Arete Wealth Advisors LLC now owns 711,410 shares of the company’s stock valued at $2,120,000 after buying an additional 185,304 shares in the last quarter.
New Gold Inc. (NYSE:NGD) opened at 3.47 on Thursday. The stock’s 50 day moving average price is $3.18 and its 200-day moving average price is $3.02. New Gold Inc. has a 12 month low of $2.39 and a 12 month high of $5.92. The stock has a market cap of $2.00 billion and a price-to-earnings ratio of 35.77.
New Gold (NYSE:NGD) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. New Gold had a return on equity of 4.03% and a net margin of 12.45%. The business had revenue of $185.60 million for the quarter, compared to the consensus estimate of $181.17 million. During the same period in the prior year, the business earned ($0.02) earnings per share. The business’s revenue was up 2.9% on a year-over-year basis. Equities research analysts predict that New Gold Inc. will post $0.06 EPS for the current year.
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Several research firms have commented on NGD. Zacks Investment Research lowered New Gold from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Royal Bank Of Canada reiterated a “hold” rating and set a $3.75 target price on shares of New Gold in a research report on Tuesday, June 13th. National Bank Financial upgraded New Gold from a “sector perform” rating to an “outperform” rating in a research report on Monday, July 24th. Scotiabank reiterated a “sector perform” rating and set a $3.00 target price on shares of New Gold in a research report on Wednesday, April 26th. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating and set a $3.50 target price on shares of New Gold in a research report on Thursday, June 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $3.79.
About New Gold
New Gold Inc is an intermediate gold mining company. The Company is engaged in the development and operation of mineral properties. Its segments include New Afton, Mesquite, Peak Mines, Cerro San Pedro, Corporate and Other. It has operating mines in Canada, the United States, Australia and Mexico; development projects in Canada, and a stream on gold production from a development property in Chile.
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