Schroder Investment Management Group Invests $1.68 Million in New Gold Inc (NYSEAMERICAN:NGD)

Schroder Investment Management Group purchased a new position in New Gold Inc (NYSEAMERICAN:NGD) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,751,842 shares of the basic materials company’s stock, valued at approximately $1,684,000. Schroder Investment Management Group owned approximately 0.30% of New Gold at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in New Gold by 19.8% in the first quarter. Bank of Montreal Can now owns 5,259,068 shares of the basic materials company’s stock worth $4,528,000 after buying an additional 869,761 shares in the last quarter. SG Americas Securities LLC raised its stake in New Gold by 217.9% in the first quarter. SG Americas Securities LLC now owns 80,771 shares of the basic materials company’s stock worth $70,000 after buying an additional 55,363 shares in the last quarter. Toronto Dominion Bank raised its stake in New Gold by 1.6% in the first quarter. Toronto Dominion Bank now owns 974,703 shares of the basic materials company’s stock worth $832,000 after buying an additional 15,789 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in New Gold by 14.1% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 5,753,323 shares of the basic materials company’s stock worth $5,531,000 after buying an additional 710,826 shares in the last quarter. Finally, Brave Asset Management Inc. raised its stake in New Gold by 15.6% in the second quarter. Brave Asset Management Inc. now owns 126,000 shares of the basic materials company’s stock worth $121,000 after buying an additional 17,000 shares in the last quarter. 51.53% of the stock is owned by institutional investors.

A number of research firms recently issued reports on NGD. Royal Bank of Canada raised shares of New Gold from an “underperform” rating to a “sector perform” rating and increased their price target for the stock from $1.00 to $1.30 in a research note on Thursday. Canaccord Genuity reissued a “hold” rating on shares of New Gold in a research note on Friday, July 19th. JPMorgan Chase & Co. downgraded shares of New Gold from a “neutral” rating to an “underweight” rating in a research note on Thursday, May 30th. Raymond James set a $1.25 price target on shares of New Gold and gave the stock a “market perform” rating in a research note on Friday, August 2nd. Finally, Zacks Investment Research downgraded shares of New Gold from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating and ten have issued a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $1.07.

Shares of NYSEAMERICAN NGD traded down $0.03 on Friday, reaching $1.22. 4,940,665 shares of the company’s stock traded hands, compared to its average volume of 4,190,351. New Gold Inc has a 12 month low of $0.61 and a 12 month high of $1.56.

New Gold (NYSEAMERICAN:NGD) last announced its earnings results on Thursday, August 1st. The basic materials company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. The business had revenue of $155.10 million for the quarter, compared to the consensus estimate of $166.10 million.

New Gold Profile

New Gold Inc, an intermediate gold mining company, engages in the development and operation of mineral properties. It primarily explores for gold, silver, and copper deposits. The company's operating properties include the Rainy River project located in Ontario, Canada; the New Afton project located near Kamloops, British Columbia, Canada; and the Cerro San Pedro mine located in the state of San Luis Potosí, Mexico.

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Institutional Ownership by Quarter for New Gold (NYSEAMERICAN:NGD)

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