Monaco Asset Management SAM Trims Stock Position in New Gold Inc. (NYSE:NGD)

Monaco Asset Management SAM lessened its stake in shares of New Gold Inc. (NYSE:NGD) by 27.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 300,000 shares of the company’s stock after selling 115,000 shares during the period. Monaco Asset Management SAM’s holdings in New Gold were worth $744,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. DGS Capital Management LLC bought a new stake in New Gold during the 4th quarter valued at $30,000. Generali Investments CEE investicni spolecnost a.s. bought a new stake in New Gold during the 4th quarter valued at $74,000. Atria Wealth Solutions Inc. bought a new stake in New Gold during the 4th quarter valued at $87,000. Daiwa Securities Group Inc. bought a new stake in New Gold during the 4th quarter valued at $103,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in New Gold during the 4th quarter valued at $107,000. Hedge funds and other institutional investors own 42.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NGD shares. Scotiabank lifted their target price on New Gold from $3.50 to $4.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 13th. CIBC decreased their target price on New Gold from $3.60 to $3.40 and set an “outperform” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, New Gold has a consensus rating of “Buy” and a consensus price target of $3.60.

New Gold Stock Up 4.9 %

New Gold stock opened at $3.23 on Friday. The firm has a market cap of $2.55 billion, a P/E ratio of 24.85 and a beta of 1.35. New Gold Inc. has a twelve month low of $1.52 and a twelve month high of $3.31. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average of $2.84 and a two-hundred day moving average of $2.79.

New Gold 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.