Hillsdale Investment Management Inc. grew its stake in shares of New Gold Inc. (NYSE:NGD – Free Report) by 222.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,216,173 shares of the company’s stock after purchasing an additional 11,186,898 shares during the quarter. New Gold comprises about 1.9% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 7th biggest holding. Hillsdale Investment Management Inc. owned about 2.36% of New Gold worth $23,508,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in NGD. Mackenzie Financial Corp increased its holdings 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 worth $13,968,000 after acquiring an additional 7,477,711 shares during the last quarter. Heartland Advisors Inc. acquired a new position in New Gold in the 3rd quarter valued at $3,185,000. Van ECK Associates Corp grew its holdings in New Gold by 2.7% in the 4th quarter. Van ECK Associates Corp now owns 66,886,569 shares of the company’s stock valued at $97,655,000 after buying an additional 1,775,882 shares in the last quarter. Monaco Asset Management SAM grew its holdings in New Gold by 71.4% in the 4th quarter. Monaco Asset Management SAM now owns 1,477,753 shares of the company’s stock valued at $2,158,000 after buying an additional 615,669 shares in the last quarter. Finally, U S Global Investors Inc. grew its holdings in New Gold by 22.5% in the 4th quarter. U S Global Investors Inc. now owns 3,144,658 shares of the company’s stock valued at $4,591,000 after buying an additional 577,757 shares in the last quarter. Institutional investors and hedge funds own 42.82% of the company’s stock.
New Gold Price Performance
Shares of NGD stock traded up $0.23 on Friday, hitting $2.11. 21,574,657 shares of the company’s stock were exchanged, compared to its average volume of 8,541,510. 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 Inc. has a 12 month low of $0.86 and a 12 month high of $2.13. The company has a market cap of $1.46 billion, a P/E ratio of -21.10, a P/E/G ratio of 0.37 and a beta of 1.53.
New Gold (NYSE:NGD – Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. New Gold had a positive return on equity of 5.23% and a negative net margin of 9.81%. The business had revenue of $192.10 million during the quarter. On average, sell-side analysts forecast that New Gold Inc. will post 0.14 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the company. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of New Gold in a report on Monday, April 8th. Scotiabank upped their target price on New Gold from $1.65 to $2.00 and gave the company a “sector perform” rating in a research report on Monday, April 8th. Finally, StockNews.com downgraded New Gold from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $1.64.
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.
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Read More:Hillsdale Investment Management Inc. Buys 11,186,898 Shares of New Gold Inc. (NYSE:NGD)
2024-05-20 04:54:56
