Quadrature Capital Ltd Sells 75,500 Shares of New Gold Inc. (NYSE:NGD)

Quadrature Capital Ltd reduced its position in shares of New Gold Inc. (NYSE:NGD) by 4.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,560,233 shares of the company’s stock after selling 75,500 shares during the quarter. Quadrature Capital Ltd owned 0.23% of New Gold worth $2,630,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Moloney Securities Asset Management LLC bought a new position in New Gold in the 1st quarter valued at approximately $42,000. Independent Family Office LLC bought a new position in New Gold in the 4th quarter valued at approximately $123,000. Baader Bank Aktiengesellschaft lifted its position in New Gold by 812.7% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 91,267 shares of the company’s stock valued at $132,000 after acquiring an additional 81,267 shares in the last quarter. Ingalls & Snyder LLC lifted its position in New Gold by 116.6% in the 4th quarter. Ingalls & Snyder LLC now owns 123,842 shares of the company’s stock valued at $181,000 after acquiring an additional 66,667 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in New Gold in the 4th quarter valued at approximately $206,000. 42.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NGD shares. BMO Capital Markets started coverage on New Gold in a report on Friday, May 31st. They set an “outperform” rating and a $3.50 price target on the stock. Cibc World Mkts raised New Gold to a “strong-buy” rating in a report on Wednesday, July 10th. TD Securities raised New Gold from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. CIBC upped their price objective on New Gold from $3.00 to $3.40 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Finally, StockNews.com lowered New Gold from a “buy” rating to a “hold” rating in a research note on Friday, May 31st. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $2.18.

New Gold Stock Down 2.4 %

NGD stock traded down $0.05 during trading on Friday, reaching $2.02. The company’s stock had a trading volume of 10,731,181 shares, compared to its average volume of 6,932,470. New Gold Inc. has a 1 year low of $0.86 and a 1 year high of $2.46. The company has a quick ratio of 0.89, a current ratio of 1.51 and a debt-to-equity ratio of 0.54. The firm has a market cap of $1.60 billion, a P/E ratio of 33.67 and a beta of 1.32. The company has a fifty day moving average price of $2.09.

New Gold (NYSE:NGD) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Analysts anticipate that New Gold Inc. will post 0.14 earnings per share 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.